Thursday, January 29th0.9°C
24779

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.

The Canadian Press


Read more Business News

23015


Recent Trending




Today's Market
S&P TSX14602.88-231.00
S&P CDNX667.30-9.49
DJIA17191.37-195.84
Nasdaq4637.994-43.503
S&P 5002002.16-27.39
CDN Dollar0.7979-0.0001
Gold1286.60-5.10
Oil46.54+0.18
Lumber318.40+2.90
Natural Gas2.87-0.111

 
Okanagan Companies
Pacific Safety0.120.00
Knighthawk0.010.00
QHR Technologies Inc1.47+0.04
Cantex0.0350.00
Anavex Life Sciences0.182+0.002
Metalex Ventures0.035-0.005
Russel Metals23.70-0.63
Copper Mountain Mining1.00-0.05
Colorado Resources0.145-0.01
ReliaBrand Inc0.01+0.0031
Sunrise Resources Ltd0.03-0.025
Mission Ready Services0.21-0.03

 



24909

FEATURED Property
2193440#423 550 Yates Road
2 bedrooms 2 baths
$429,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Leaving a job: changing careers

Many people, who find themselves out of work and with time on their hands, and money in their pockets due to lay-off, start thinking about a career change. If you weren’t happy with the directio...


Service fit makes happy employees

Finding the right employees for the front lines of your company is key to developing a great service attitude within your company. It is just as important as hiring the right accountant, manager, sale...


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...

_





24709


Member of BC Press Council


24697