(Reuters) – Blackhawk Network Holdings Inc, a agent of allowance and added acquittal cards, said on Monday it would add two absolute admiral to its lath in an acceding with activist broker Jana Ally LLC.
As allotment of the pact, Blackhawk will anatomy a amount accumulation board absolute four associates that will accommodate the two new directors, Robert Henske and Jeffrey Fox.
Pleasanton, California-based Blackhawk, which ally with retailers such as Staples Inc and Amazon.com Inc to advertise allowance cards, was spun off from U.S. grocery alternation Safeway Inc three years ago.
Jana, which appear a 6.2 percent pale in Safeway in 2013, had pushed the aggregation to accede cardinal alternatives and afford barren units. (reut.rs/2nroqGg)
Safeway awash itself to clandestine disinterestedness close Cerberus Capital in a $9.4 billion accord and alloyed with U.S. grocer Albertsons Companies Inc.
Jana currently owns a 4.7 percent pale in Blackhawk.
Blackhawk additionally said on Monday that Chief Financial Officer Jerry Ulrich would footfall down.
The allowance agenda provider said it would restructure disinterestedness advantage for some of its top executives, starting 2018.
Reporting by Rishika Sadam in Bengaluru; Editing by Anil D’Silva and Sai Sachin Ravikumar
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