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LONDON, March 9 (Reuters) – Activist hedge fund firm Teleios Capital Partners on Monday wrote to the board of French furniture and home decor company Maisons Du Monde urging it to seek support from major shareholders before any appointments to the board are announced.
Teleios, MDM’s biggest shareholder with around 13.3% of its stock, said it had repeatedly raised concerns with the company regarding its operating performance, investor communication and corporate governance, it said in a letter here seen by Reuters.
Teleios said it understood new board appointments were expected to be made imminently, potentially including a new chairman, and that investors needed to be consulted.
“We regret that our repeated attempts to have a constructive dialogue with the Board around these proposed appointments have been rejected,” Teleios said in the letter.
Officials at Maisons du Monde could not be reached for comment. (Reporting by Maiya Keidan, additional reporting by Blandine Henault in Paris; editing by Simon Jessop and Rachel Armstrong)
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