Score five for the Clinton Group in its fight for control of ShopHQ’s parent.
The ValueVision Media investor got its wish Monday when its slate of five dissident directors joined the company’s eight-member board.
Clinton Group, which has had ValueVision and its home-shopping network unit in its sights since October, also saw one of its nominees succeed Keith Stewart as ValueVision chief executive.
The successor, Mark Bozek, has years of relevant experience as a top executive at QVC and Home Shopping Network, the industry’s leading companies.
Minnesota-based ValueVision confirmed shareholders elected four of its own nominees and four from Clinton’s slate at the June 18 annual meeting. But Stewart’s exit created another position on the board, which went to the Clinton side.