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Legion Partners And Calstrs Team Up To Take Down Perry Ellis

Legion Partners is active over at Perry Ellis ($PERY), nominating a short-slate of three dissident directors last week. They own 6.3% of the company, having teamed up with Calstrs. It’s pushing for corporate governance changes, looking to separate the CEO and chairman roles.

The problem is, it’s being run as a family business - led by the Feldenkreis family. The nominees include Rob Mettler - previously of Macy’s, Darrell Ross - of Luxury Brand Holdings, Josh Schechter - director of Aderans.