Charming’s CEO Bern Squeezed Out By Funds
Thursday, July 10, 2008 : PermalinkNew York Post- Women’s clothier Charming Shoppes booted CEO Dorrit J. Bern less than two weeks after a pair of dissident hedge funds officially secured seats on the board.
Board-level talks to oust Bern, who’s eligible to earn up to $10.5 million in severance, kicked off June 26, hours after representatives from hedge funds Crescendo Partners and Myca Partners were officially sworn in as directors, The Post has learned.
Tags: board-of-directors, incomplete-documents, paradigm, retail-executives, shareholder-approval, shareholder-support, upfront, value-investors
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