Coupons.com-owner Quotient appoints activist investor nominee to board

Reuters

May 17, 2022 at 9:50 a.m.·1 min read

May 17 (Reuters) - Coupons.com-owner Quotient Technology Inc said on Tuesday it has appointed Engaged Capital's nominee to its board, putting an end to a tussle with the activist investor.

Engaged Capital, which has a 6.4% stake in Quotient Technology, has been pushing for changes in the company saying it "failed to deliver operational performance or stockholder returns since IPO in 2014".

Quotient appointed Matthew O'Grady and Joseph Reece as directors. Engaged Capital had sought the appointment of O'Grady and Christopher Hetrick to the company's board.

"We are thankful for the constructive resolution we reached with Quotient and believe this outcome is in the best interest of all shareholders," Engaged Capital founder Glenn Welling said.

Shares of Quotient, whose customers include Walmart and Campbell Soup, have fallen more than 46% since Engaged Capital sent a letter to its shareholders in November. (Reporting by Chavi Mehta in Bengaluru; Editing by Shounak Dasgupta)

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