Argo sets Dec 15 date for final face-off with rebel shareholder group
Bermuda-based re/insurer Argo Group International Holdings will go head-to-head with a long-simmering minority shareholder insurgency at a GM now slated for December 15.
Argo's current board has opened a proxy fight for the meeting, making vocal arguments for its slate of seven board members and that shareholders shut out two rivals being put forward by shareholder Capital Returns Master Ltd.
The minority shareholders are seeking to place two independent members to its board of directors, shake up executive compensation and name the next auditor, draft resolutions to the 2022 AGM have previously indicated.
The group has named industry veterans Ronald Bobman and David Michelson as its candidates to the board.
The board defends its record on steps to date to streamline the portfolio focus on profitable lines, bolster finances through several strategic asset sales, re-underwriting core US specialty business and cutting costs.
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