UGG Parent Company Deckers Nine Original Directors Or Bring Them To Renaissance Orbit.

According to the world clothing and shoe net, Deckers Outdoor Corp. (NYSE:DECK) and the aggressive investors, the proxy of the Marcato Capital Management LP of the hedge fund, won the battle at the annual general meeting on Thursday, December 14th.

Shareholders support one side.

Brand parent company

Outdoor Corp., nine former board members were re elected.

Marcato Capital Management LP, who initially sought to overthrow the entire board and then concession only nominated three new independent directors, was completely annihilated.

Deckers Outdoor Corp., a longing investor, was disappointed. Deckers Outdoor Corp. (NYSE:DECK) fell 5.36% to 74.15 dollars on Thursday, and its share price jumped 65% since Marcato Capital Management LP disclosed its shareholding in February this year.

In the past half a year, Marcato Capital Management LP has been pressing the Deckers Outdoor Corp. board to improve operations and governance, and even sell the group on sale.

The founder of the fund, the US hedge fund giant Bill Ackman apprentice Mick McGuire believes that if Deckers Outdoor Corp. focuses on the development of its crown beads UGG and stripped Teva and Sanuk, such as non core.

The share price can be doubled to $135-138 before 2020, and the share price can be doubled to $135-138 before 2020. The EPS can also rise from $3.82 in fiscal year 2021 to $12.68 in fiscal year 2021.

Deckers Outdoor Corp. 8 announced in the month to explore strategic options including sales. However, when it released its two quarter earnings in late October, it said it had decided to terminate the sale process after contacting 90 entities who still could not find potential buyers.

The group announced on Thursday that the results of the board's election proved that the group was on the right track of recovery.

In November, the group promised to nominate at least two new directors by September 2018, and an additional $400 million share repurchase program.

At present, Marcato Capital Management LP holds the equity of Deckers Outdoor Corp. 8.4%.

The group's two other radical investors, BlackRock Inc. (NYSE:BLK) and Vanguard Vanguard, which share nearly 18% stake, have chosen the same front as Deckers Outdoor Corp..

Mick Mcguire said in its statement yesterday that the status quo of Deckers Outdoor Corp. is still unacceptable. He also pointed out that the board of directors of the group must be substantially changed to avoid repeating many mistakes in the past.

But he refused to respond to the withdrawal of his investment in the group.

Over the past three years, the income of Deckers Outdoor Corp. has been regressive year by year.

In the last two quarters, the group declined 0.7% to 482 million 500 thousand US dollars, of which the UGG brand declined 2.9% to 400 million 400 thousand US dollars, and its profitability was improved by restructuring plan. The gross margin was significantly increased by 220 basis points to 46.7%, and the adjusted EPS also increased by 25.2% to 1.54 dollars.

The group is expected to adjust its EPS 3.95-4.15 year to $4.15-4.30 from the previous US $4.15-4.30, but the net sales growth outlook will be lowered from -2% to zero.

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