Investing.com -- Ananym Capital Management, an activist investor, has plans to nominate up to six directors to the board of Henry Schein (NASDAQ:HSIC), a dental and medical distributor. According to a Reuters report, the hedge fund believes that the company needs to begin looking for a new CEO, reduce costs, and enhance its capital allocation.
Ananym Capital Management, which was established in September by experienced investors Charlie Penner and Alex Silver, is expected to announce its selection of directors within the upcoming weeks. The candidates will likely be executives with a background in healthcare distribution and business transformation.
Henry Schein, which has a market value of $9.3 billion, currently has 13 members on its board. This includes Stanley Bergman, the Chairman and Chief Executive, who has served as a director for over four decades. Additionally, five of the directors have served on the board for twelve years or longer.
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