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August 11, 2014
08:01 EDTBOBESandell says ISS, Glass Lewis support board change at Bob Evans
Sandell Asset Management, one of the largest shareholders of Bob Evans Farms, commented on the important news that Institutional Shareholder Services and Glass Lewis have both recommended that Bob Evans shareholders vote on the GOLD proxy card. To follow the ISS and Glass Lewis recommendations, Bob Evans shareholders “DO NOT VOTE” on the Company’s white proxy card. Tom Sandell, CEO of Sandell Asset Management, said, “As we continue to speak with shareholders, we grow increasingly confident that change is coming to Bob Evans – and it will be to the benefit of all the Company’s shareholders. The support of ISS and now Glass Lewis, who in a rare move recommended the vast majority of our Director nominees, underscores what we have said all along: Bob Evans needs fresh, truly independent and highly-qualified Board members who are able to bring new perspectives and ideas to the Company – and our slate of nominees is the best choice to deliver it. We encourage everyone to disregard the Company’s increasingly desperate tactics, which in our opinion reflect nothing more than hollow rhetoric, and instead focus on the value to be unlocked at Bob Evans with a reconstituted Board committed to positive change. We look forward to continuing to make our case to shareholders in advance of the Annual Meeting.”
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