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.
Read more Business News
- Buskers festival remains on radarKelowna - 7:27 pm
- Harvesting rain water in the OkanaganPenticton / S. Okanagan - 7:23 pm
- Is Crime Stoppers at risk?Penticton / S. Okanagan - 4:07 pm
- Snelson to apply for change of venueKelowna - 3:59 pm
|QHR Technologies Inc||1.19||+0.01|
|Anavex Life Sciences||0.54||+0.12|
|Copper Mountain Mining||2.14||-0.06|
|Sunrise Resources Ltd||0.03||-0.005|
|Mission Ready Services||0.275||-0.02|
How will you pay for this today? Maybe it’s time to change the way you answer this common checkout question.With more payment options than ever, consumers can find easy ways to save money, simpl...
In the razzle dazzle of Hollywood it is hard to find anyone who stands out from the crowd. The fraternity of Actors, Producers, Directors and various other technical guru’s seem to live in a wo...
This past Sunday I drove from Kelowna to Powell River. For those of you who’ve never had to, particularly in winter, it means rising in the wee hours; managing a treacherous journey on the Coqui...