A dissident shareholder group is not letting up on ShopHQ, continuing to demand that the current management be ousted.
We blogged last week about The Clinton Group’s call for ShopHQ, formerly ShopNBC, to dump CEO Keith Stewart because of the poor performance of the No. 3 home shopping network.
Well, there were two press reports Monday about The Clinton Group still being on the war path. The New York Post wrote that the shareholder group, which has a 5 percent stake in ShopHQ, was also calling for ShopHQ Chief Operating Officer Carol Steinberg to be canned.
The paper said that The Clinton Group skewered Steinberg because she had posts on Facebook that indicated she is in Philly on Mondays and Fridays, far away from the network’s HQ in Minnesota. The shareholder group made this accusation during a presentation to the company’s board, according to the Post.
Meanwhile, Bloomberg Businessweek reported that The Clinton Group is demanding a shareholder meeting to reshuffle ShopHQ’s board. The group wants most of the board’s current members removed and for seven new nominees put in, picked from a roster of execs that includes former Home Shopping Network CEO Mark Bozek and former Sony Music Chairman (and Mariah Carey ex-husband) Tommy Mottola.
The beat goes on.