Coupons.com-owner Quotient appoints activist investor nominee to board

Quotient Technology

17/05/2022 14:50

May 17 (Reuters) - Coupons.com-owner Quotient Technology Inc
 QUOT.N  said on Tuesday it has appointed Engaged Capital's
nominee to its board, putting an end to a tussle with the
activist investor.
    Engaged Capital, which has a 6.4% stake in Quotient
Technology, has been pushing for changes in the company saying
it "failed to deliver operational performance or stockholder
returns since IPO in 2014".
    Quotient appointed Matthew O'Grady and Joseph Reece as
directors. Engaged Capital had sought the appointment of O'Grady
and Christopher Hetrick to the company's board.
    "We are thankful for the constructive resolution we reached
with Quotient and believe this outcome is in the best interest
of all shareholders," Engaged Capital founder Glenn Welling
said.
    Shares of Quotient, whose customers include Walmart and
Campbell Soup, have fallen more than 46% since Engaged Capital
sent a letter to its shareholders in November.

 (Reporting by Chavi Mehta in Bengaluru; Editing by Shounak
Dasgupta)
 ((Chavi.Mehta@thomsonreuters.com))