43271
40164
S&P/TSX
15264.64
+19.93
+0.13%
S&P-CDNX
764.53
-1.42
-0.19%
S&P-500
2473.45
-0.38
-0.02%
NASDAQ
6390.0020
+4.9600
+0.0777%
Dow
21611.78
-28.97
(-0.13%)
Dollar
0.7937
+0.0009
+0.1135%
Oil
46.73
-0.39
-0.83%
Gold
1236.80
-4.40
-0.35%
Silver
16.25
-0.00
-0.01%


Rona board is not 'doing it right'

A fund manager that owns about one-tenth of Rona Inc. is calling for shareholders to remove the company's board of directors and install new directors.

Invesco Canada's call for a clean sweep at the home-improvement chain comes after dismal financial results were released last week by Rona (TSX:RON).

Rona's long-time chief executive has already left the company.

The unexpected departure of Robert Dutton came two months after he and the other Rona directors fended off a takeover attempt by American rival Lowe's.

That was followed by a third-quarter report a week ago that showed Rona's net income fell to $5.1-million, or 4 cents a share, from $47.8-million, or 36 cents, a year earlier.



More Business News

44168
Recent Trending
Castanet Proud Member of RTNDA Canada
Press Room