Deckers Obtains Victory in Proxy Contest Against Marcato Capital Management
On December 14, 2017, Deckers Brands, a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, announced that, based on the preliminary vote count following its 2017 annual meeting, company stockholders have voted to re-elect all of Deckers' directors—John Gibbons, Karyn Barsa, Nelson Chan, Michael Devine III, John Perenchio, David Powers, James Quinn, Lauri Shanahan, and Bonita Stewart—to the Deckers board. The company's victory comes after a 10-month long proxy contest with San Francisco-based investment manager Marcato Capital Management, which manages funds that beneficially own approximately 8.4 percent of the outstanding common shares of Deckers Brands. In the challenge, Marcato attempted to replace several Deckers directors with its own candidates. WSGR represented Deckers Brands in its proxy contest with Marcato.
The WSGR team that represented Deckers in the matter included:
Employee Benefits and Compensation:
For more information, please see Deckers' press release.