In the Margins

Urban Outfitters board accused of 'extreme insularity'

May 3, 2017

By Bloomberg

An Urban Outfitters investor group is urging shareholders to vote against the re-election of two directors, saying the board’s “extreme insularity” has contributed to its weak performance. The nine-member Urban Outfitters board has only two women, one of whom is CEO Richard Hayne’s wife, Margaret. The directors also have an average tenure of 19 years, compared with an average of 9.4 years for the S&P mid-cap index, according to the group. Read the original story from Bloomberg