The three men who won a proxy fight to earn spots on Topps’ board of directors are now in position to try and shove the company in a different direction. But can they?
Timothy Brog’s hedge fund firm, Pembridge Capital Management, succeeded in their quest to gain seats of power within the Topps company earlier this summer.
The 42 year-old agent for change claims Topps’ executive salaries are too high and the company is underachieving. The company’s long-time braintrust vehemently disagrees, but Brog still believes his group can turn the profit margin into higher gear.
Their plan remains to sell off portions of the company to make the core stronger.
"We are young, we are aggressive and we don’t like the status quo," says Arnaud Ajdler of Crescendo Partners, a 30-year-old Belgian engineer with a degree from the Massachusetts Institute of Technology and an MBA from Harvard who has teamed up with Brog in the fight for Topps.