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CST Shareholder Plans To Nominate BOD Candidates

By CSD Staff | February 26, 2016

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JCP Investment Management LLC is making nominations to bring greater industry experience to CST’s Board.

Together with its affiliates, JCP Investment Management LLC, a stockholder of CST Brands Inc., has announced the intention to nominate candidates for election to CST’s Board of Directors. Nominations of highly-qualified directors will be made at CST’s upcoming 2016 annual meeting of stockholders.

JCP remains disappointed by CST’s lack of progress on its operational initiatives, both recently and since being spun out from Valero Energy Corp. nearly three years ago, but continues to believe there is tremendous value and opportunity to be realized in CST, as further explained in JCP’s letter to the Board dated Dec. 22, 2015.

JCP believes that new, independent directors with fresh perspective, industry experience and capital allocation backgrounds should be added to the Board, and has identified potential director nominees with direct and relevant experience in the convenience store industry, including individuals with a broad range of retail and restaurant company experience who have strong ties to Texas, where most of CST’s business occurs.

JCP looks forward to a constructive engagement with the Board; however, if no agreement can be reached, JCP intends to formally nominate and pursue the election of its nominees to the Board and more fully engage with CST’s shareholders regarding its plans for the CST.

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  • Home
  • Today on CSD
  • Categories
    • CBD
    • Foodservice
    • Fuel & Gas
    • Health & Beauty
    • Independent Operators
    • Operations & Marketing
    • Technology
  • CStore Playbooks
    • Alcoholic Beverage Playbook
    • Candy Playbook
    • CBD Playbook
    • Foodservice Playbook
    • Technology Playbook
    • Tobacco Playbook
  • Products
    • 2022 Hot New Product Contest
    • Hot New Products Contest
    • Beverages & Cold Vault
    • Candy, Gum & Mints
    • Snacks
    • Tobacco
  • Resources
    • Digital Issues
    • Research & Downloads
    • Podcasts/How To Series
    • On Location
    • FAQ
    • 2022 Top 111 Chains
    • Leaders in Convenience
    • Rack Prices
    • Sponsored Content
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Events
    • 2022 Chain of the Year
    • Convenience Directions
    • NAG Convenience Conference
    • Young Executive Organization
  • Join
    • National Advisory Group
    • Safe Shop Assured
    • Young Executive Organization