Roustan Ends Fight for Seat on Performance Sports Group Board
(The Globe and Mail, September 25, 2015) - Former Bauer Chairman Graeme Roustan gave up his fight for a seat on the board of directors of Performance Sports Group, which owns Bauer, in late September. Roustan was Bauer chairman from 2008-2012 and planned to nominate himself as a candidate for director at the company's annual meeting Oct. 14 because of his dissatisfaction with PSG's plans.
Roustan is opposed to Bauer's foray into retail by opening its "Own The Moment" stores in the U.S. and Canada. The first store opened in suburban Boston in August and the second will open in suburban Minneapolis-St. Paul later this fall.
The PSG Board of Directors publicly released a letter to company shareholders, signed by board chairman Bernard McDonnell, that questioned Roustan's qualifications to be a director. The New York Post reported that Roustan could make a takeover bid for PSG that could surpass $1 billion.