Marathon Partners Equity Management LLC is planning to nominate three directors to e.l.f. Beauty Inc.’s board, a rare instance of an activist investor launching a proxy fight since the coronavirus shook American corporations. Marathon Partners criticizes the discount cosmetic company’s cost structure, executive-compensation plan and stock performance in documents viewed by The Wall Street Journal. Its nominations to e.l.f.’s eight-person board could be made public as soon as Thursday.

Source: Wall Street Journal May 27, 2020 23:04 UTC