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FrontFour Capital Group, which owns a 5.3 percent stake in MDC Partners, has launched an effort to oust three of eight directors of the ad/PR holding company.
The Connecticut hedge fund believes a board revamp is needed to create shareholder value at MDC, according to its Jan. 2 Securities and Exchange Commission filing.
MDC shares trade at $2.79. 52-week range is $2.20, $10.10. The firm lost $36.2M on $1.1B nine-month 2018 revenues.
FrontFour wants a meeting no later than March 29 for a shareholder vote to remove directors Scott Kauffman (outgoing MDC CEO), Clare Copeland (vice chairman of Falls Management commercial developer/casino operator) and Irwin Simon (CEO of Hain Celestial Group natural/organic food company.)
Its slate of directors includes Stephen Loukas (partner at FrontFour), Kristen O’Hara (ex-CMO of Time Warner) and David Moran (co-founder of Deep Relevance Partners branding firm).
MDC said it remains focused on its previously announced plan to explore strategic options and search for a CEO.
It owns Allison + Partners, Sloane & Co, KWT Global and Hunter PR.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
Trump Media & Technology Group posted a $238M Q2 loss on $1.7M in revenues. That performance compares to a $20M loss and $883K revenues in the 2025 comparable quarter.
The Brand Amp represents Archer Aviation as it acquires Boeing’s $200M flying-taxi operation in return for a 20 percent stake in the Silicon Valley startup.
Amsterdam’s CFF Communications handles Accell Group as Europe’s No 1 e-bike and No. 2 bicycle maker declares insolvency after failing to find a buyer.
Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
