PENN Entertainment has issued a statement regarding the recent Institutional Shareholder Services (ISS) report ahead of their 2025 Annual Meeting. The report focuses on the nomination of two highly-qualified candidates for the Board of Directors’ election.
Summary
PENN Entertainment, Inc. addressed the ISS report dated June 6, 2025, which confirms two seats open for election at their upcoming Annual Meeting. PENN and HG Vora have jointly recommended Johnny Hartnett and Carlos Ruisanchez for these positions. The ISS recognised PENN’s willingness to consider all nominees, though it did not accurately reflect the concerns regarding William Clifford’s candidacy. PENN has asserted that Clifford demonstrated outdated views during his tenure as CFO, which could hinder progress in a competitive market.
PENN urges shareholders to support Hartnett and Ruisanchez, stating that post-election, 75% of the Board will have been appointed since 2019. The company emphasises its commitment to optimal governance and shareholder value.
Key Points
- PENN and HG Vora recommend Johnny Hartnett and Carlos Ruisanchez for the two open director seats.
- ISS praises PENN for its open-minded approach towards nominee evaluation.
- PENN disputes the ISS findings on William Clifford’s candidacy, citing past opposition to critical initiatives.
- 75% of the Board will have joined since 2019 following the upcoming election, enhancing governance.
- PENN reiterates its commitment to creating shareholder value through an optimal Board structure.
Why should I read this?
If you’re invested in PENN or curious about corporate governance, this article is a must-read! It provides insight into the strategic nominations for the board that could influence the company’s direction. With shareholder meetings on the horizon, knowing who’s running for key positions can really help you gauge the company’s future. Don’t miss out on the details – we’ve done the legwork for you!