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Jana Pushes Cooper Cos. for CEO, Board Shakeup

19 Sep

Summary

Jana Partners urges Cooper Cos. to replace CEO and board chair.
Activist investor cited a crisis within the specialty healthcare company.
The push was detailed in a letter sent to the company's board.

Activist investor Jana Partners has initiated a campaign to overhaul the leadership of specialty healthcare company Cooper Cos. The firm is pressing for the removal of the current chief executive officer and the board chair.

Scott Ostfeld, managing partner at Jana, articulated these demands in a letter addressed to Cooper Cos.'s board on Friday. He asserted that the company is contending with an internal crisis, which he believes requires immediate changes in its top leadership positions.

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