Arex Capital Management nominates seven directors to Enhabit's board (updated)

Enhabit

29/05/2024 20:24

(Adds details and background in paragraphs 2-4)
       May 29 (Reuters) - Hedge fund Arex Capital Management
said on Wednesday that it had nominated seven independent
directors to the board of Enhabit Inc  EHAB.N .
    Arex in a letter to Enhabit's shareholders said that "a
significant reconstitution of its membership is required and
warranted." The hedge fund owns about 4.9% of the company.
        The fund, which has also been pushing the U.S. home
health and hospice provider to put itself up for sale, privately
nominated the seven candidates in March during the company's
nominating window, Reuters reported in 
    May
    .
  
        Arex said earlier this month that new directors are
needed to help reverse poor financial performance.
  

 (Reporting by Sneha S K in Bengaluru; Editing by Maju Samuel)
 ((Sneha.SK@thomsonreuters.com;))