Topps shareholders have added new candidates to the baseball card maker’s Board of Directors, a move that could lead to the sale of the company or at least some major changes.
The new blood from a hedge fund that’s determined to make some big changes at Topps is now sharing power with the old guard.
Timothy Brog, the man behind the bid to wrest control of the company away from it’s long-time bosses, is pushing to cut CEO salaries, improve the profit margin and maybe even find a new buyer.
The three new board members were elected Friday. The other new candidates to the board are Crescendo Partners managing director Arnaud Ajdler and attorney John Jones.
Here’s more on Brog and why he’s not been happy with Topps.