34232
31342
S&P/TSX
14582.72
+31.08
+0.21%
S&P-CDNX
796.17
+11.22
+1.43%
S&P-500
2173.60
+3.54
+0.16%
NASDAQ
5162.13
+7.15
+0.14%
Dow
18432.24
-24.11
-0.13%
Dollar
0.7674
+0.0073
+0.97%
Oil
41.38
+0.24
+0.58%
Gold
1326.30
+5.60
+0.42%
Silver
19.66
+0.05
+0.23%


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

30913
Recent Trending
33725
33930
Member of the RTNDA
Press Room
32864