Olshan Client Engaged Capital Urges Volcano Corporation to Sell the Company or Find New CEO
The Wall Street Journal, The Deal (subscription required) and other media sources reported that Olshan client, Engaged Capital, issued an open letter to the Board of Directors of Volcano Corporation. Engaged Capital urged Volcano’s Board to immediately add shareholder representatives and begin a parallel process to evaluate strategic alternatives and conduct a CEO search for candidates with a history of driving profitability and extracting value. The Deal noted that Engaged Capital has retained Olshan’s Steve Wolosky as legal adviser. Steve Wolosky and Ryan P. Nebel represent Engaged Capital in connection with its investment in Volcano.