December 6, 2017 / 10:11 PM / a year ago

Proxy advisory firm ISS switches Deckers recommendation to Marcato nominees

BOSTON, Dec 6 (Reuters) - Proxy advisory firm Institutional Shareholder Services on Wednesday switched its recommendation in one of the season’s most hotly contested proxy contests to suggest shareholders vote for an activist hedge fund’s slate at Deckers Outdoor Corp.

“Shareholders are therefore advised to directly support dissident nominees Fuller, Waterman, and Feldman by voting FOR their election on the dissident (GOLD) card,” ISS said in its report.

Hedge fund Marcato Capital on Monday slimmed down its slate to three from nine directors just days after ISS urged shareholders withhold votes for three Deckers directors. (Reporting by Svea Herbst-Bayliss Editing by Sandra Maler)

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