Sunday, September 21st13.0°C
23284
22646

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

23021


Recent Trending




Today's Market

 
Okanagan Companies

 



21097

FEATURED Property
20397691174 Long Ridge Drive
4 bedrooms 4 baths
$672,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


Is this a fair offer from ICBC?

“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...

_








Member of BC Press Council


22962