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From Home Furnishing Business
Select Comfort Board Gets Nod from Proxy Advisors
May 11,
2015 by in Financial Reports, Industry 
Two independent proxy advisors have recommended shareholders vote for all of Select Comfort’s (NASDAQ: SCSS) director nominees at the company’s upcoming annual meeting.
Select Comfort has been involved in a proxy battle with Blue Clay Capital Partners. The shareholder has been pushing to replace two board members with two candidates of its choosing. Select Comfort has advocated to keep the board as is.
Institutional Shareholder Services and Glass Lewis & Co. are the two independent advisors that have sided with Select Comfort.
ISS said the company’s response enabled Select Comfort to recover lost ground last year. The company’s upward performance trend continues unabated … there does not appear to be a compelling case at this time that board change is warranted.”
Glass Lewis & Co. said Blue Clay’s performance arguments are “couched in questionable, and frequently absolute methodologies that fail to provide a contextual picture of (SCSS’s) operational position.”
Shelly Ibach, president and CEO of Select Comfort, said the affirmation from ISS and Glass Lewis & Co. validates the company’s strategy.
“We expect this strategy to continue to meaningfully enhance shareholder value,” she said.
The company’s meeting is set for May 22.