#elliott-management

#elliott-management

Lululemon Athletica's founder Chip Wilson said on Monday he had launched a proxy fight by nominating three independent directors to the company's board, just over two weeks after the apparel maker announced the exit of CEO Calvin McDonald without a clear successor. Lululemon shares have shed nearly half their value this year as the company struggles to find its footing with younger and affluent shoppers, while battling stiff competition from fast-growing newer rivals such as Alo Yoga and Vuori,

When Cardinale and RedBird bought Milan in the summer of 2022, a vendor loan for roughyl half of the amount was agreed upon with Elliott Management. This loan was refinanced at the end of last year and then, the principal amount stood at €489m. Last week, Calcio e Finanza reported that the loan now amounts to €523m due to interest, and that Cardinale is actively looking for investors either to pay off the loan entirely or refinance it.