ConMed Corporation Responds To Activist Investor
Published: Nov 13, 2013
ConMed responds to a challenge from activist investor group Voce Capital Management, citing "the strong operating performance delivered by ConMed over the past several years." ConMed (NSDQ:CNMD) today responded to a long and critical letter from Voce Capital Management issued last week that demanded steps toward a strategic exit and the end "a culture of nepotism, patronage and dystopian corporate governance." Voce, which owns a roughly 1% stake in ConMed, described the company as run and ruined by the Corasanti family, highlighting several high-level officers with ties to company founder, former CEO and current chairman and vice chairman Eugene Corasanti, who in 2006 handed the corner office to his son, Joseph Corasanti.
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