LENS RENEWS FOCUS ON JUNO LIGHTING.

Crain's Chicago Business, November, 1998

Dissident shareholders of Juno Lighting Inc. submitted a shareholder resolution for next spring's annual meeting that would limit the board to no more than one inside director. Washington, D.C., shareholder activist group Lens Inc., which owns a 6% stake in Des Plaines-based Juno and is leading the campaign, has been pressing Juno to add outside directors, as well as to redeploy its $90-million cash hoard and develop a succession plan (Crain's, March 9).

Juno in March agreed to add two outside directors, but no appointments have emerged. Lens principal Nell Minow said Lens will weigh a proxy contest if it doesn't see ``significant improvement.'' Juno Director of Corporate Planning Joel Chemers said the company has hired a search firm and has kept Lens apprised...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.