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.
Read more Business News
- Road closures and blastingWest Kelowna - 12:47 pm
- 12K eggs gone in 45 secondsWest Kelowna - 1:38 pm
- Garneau talks to veteransKelowna - 8:45 am
- Castanet's week in reviewKelowna - 5:00 am
|QHR Technologies Inc||1.29||+0.07|
|Anavex Life Sciences||0.375||0.00|
|Copper Mountain Mining||2.35||-0.07|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.25||+0.02|
With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...
How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...
The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...