Feb 26 (Reuters) – J.M. Smucker said on Thursday it had appointed Woo-Sung Chung and David Singer to its board, after reaching a “constructive engagement” with investor Elliott Investment Management. The company said it had entered into an information-sharing agreement with Elliott to help drive “sustainable value” for all shareholders. Chung is currently the CFO of […]
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J.M. Smucker enters into agreement with Elliott, appoints two independent directors
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Feb 26 (Reuters) – J.M. Smucker said on Thursday it had appointed Woo-Sung Chung and David Singer to its board, after reaching a “constructive engagement” with investor Elliott Investment Management.
The company said it had entered into an information-sharing agreement with Elliott to help drive “sustainable value” for all shareholders.
Chung is currently the CFO of NRG Energy, while Singer is the former CEO of snacking company Snyder’s-Lance.
Shares of J.M. Smucker, which also posted better-than-expected quarterly results, rose nearly 7% premarket.
(Reporting by Koyena Das in Bengaluru; Editing by Shreya Biswas)