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Bid to shake up Forzani board fails - Metro US

Bid to shake up Forzani board fails

A U.S. investment group that wanted to instill a “fresh perspect­ive” at Canada’s largest network of sporting goods stores has been thwarted at the annual meeting of Forzani Group Ltd.

New York-based Crescendo Partners had wanted its two nominees to join Forzani’s board but all eight seats were filled by the nominees proposed by Forzani. Former Rona chairman Henri Drouin and Donald Gass, who retired last year as a partner from Deloitte & Touche, each received 61 per cent of the votes cast.

That was well ahead of the 38 per cent of votes cast for dissident nominee Barry Erdos, CEO of U.S. toy retailer FAO Schwarz, and 14 per cent cast for Crescendo managing director David Sgro.

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