January 19, 2018 / 12:28 PM / 3 months ago

Lowe's names two directors after talks with activist investor

Jan 19 (Reuters) - Lowe’s Cos Inc said on Friday it added two board members, a week after reports that hedge fund D.E. Shaw & Co had built an active stake in the home improvement chain, sending its shares up 2 percent.

David Batchelder, co-founder of Relational Investors, and Lisa Wardell, CEO of Adtalem Global Education, were named to the board after “constructive discussions” with D.E. Shaw, the company said.

Lowe’s also said it would nominate Brian Rogers, chairman of T. Rowe Price Group and its former chief investment officer, for board election at its annual shareholder meeting. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Saumyadeb Chakrabarty)

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