Activist Clients Engaged Capital and Lone Star Value Reach Accord with Rentech for Board Representation
The Wall Street Journal and other media sources reported that Concerned Rentech Shareholders, a group led by Olshan clients Engaged Capital and Lone Star Value Management, reached a settlement agreement with Rentech on board representation and certain corporate governance improvements. In addition to establishing a Finance Committee responsible for approving significant capital expenditures, reviewing and taking action to reduce Rentech’s cost structure, and reviewing the Company’s executive compensation practices, Rentech agreed to nominate a director candidate approved by Concerned Rentech Shareholders at its upcoming annual meeting of shareholders, or to appoint such director candidate shortly thereafter. The Olshan team that represented Concerned Rentech Shareholders in connection with its activist campaign and settlement negotiation at Rentech included Steve Wolosky, Andrew Freedman, and Ryan Nebel.
Marketing & Administrative Manager