Engaged Capital Obtains Additional Board Representation at Rent-A-Center
Reuters, StreetInsider and other media sources reported on the agreement reached by Olshan client Engaged Capital with Rent-A-Center, Inc. pursuant to which Rent-A-Center will nominate one new independent director, to be proposed by Engaged Capital, at the 2018 annual meeting. Engaged Capital’s new director nominee will replace a current director on Rent-A-Center’s Board. Rent-A-Center also agreed to terminate its poison pill prior to the 2018 annual meeting. Previously, Engaged Capital led a successful proxy campaign at Rent-A-Center where all three of Engaged Capital’s director nominees were overwhelmingly elected to Rent-A-Center’s Board at the 2017 annual meeting. Steve Wolosky and Ryan Nebel represent Engaged Capital in connection with its investment in Rent-A-Center.