Imation CEO, Chairman Booted From The Board



By Tom Webb, St. Paul Pioneer Press

“An activist hedge fund has won a hotly contested proxy fight at Imation Corp., replacing three board members — including the company’s CEO and nonexecutive chairman, the Oakdale-based company said Wednesday.

The Clinton Group, a New York-based hedge fund, had urged shareholders to overthrow the directors of the data-storage and data-security company, whom they blamed for lavish executive pay and years of poor stock performance.”

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