Dillard’s Inc. recently received notice from investmentfirms Barington Capital Group L.P. and Clinton Group Inc. that they are lookingto nominate four new directors for election at the company’s annual meeting onMay 17.
The notice, Dillard’s said in a statement, will be forwardedto the executive committee of the company’s board for review, and no currentaction by the company’s shareholders is necessary. Barington’s nominees include Chairman and CEO James A. Mitarotonda,
Barington, which represents a group of investors includingClinton Group that owns about 5.6 percent of Dillard’s, according to ArkansasNews Bureau, said “the company’s vast value potential is not being realized,”according to Dow Jones Newswires. The firm added that the company would beworth more than its current stock price if managed effectively.
Barington has been criticizing the company since the middleof last year, and has sought to maximize shareholder value.