Collectors Universe refreshes board following activist investor campaign

Updatea month ago
This morning, Collectors Universe (CLCT) announced the appointment of two new independent directors to its board after months of dialogue with activist investor Alta Fox.
This represents a big win for the company and its shareholders, for whom this represents a key catalyst in unlocking the business's untapped potential.
As a reminder, a major leg of our original thesis in Collectors Universe was the potential upside that could be unlocked should the company refresh its board as proposed by activist investor Alta Fox:
"We believe that activist shareholder Alta Fox and a refreshed board can execute digital and scalable recurring revenue initiatives that will materially increase CLCT’s overall margins and earnings power."
The two newly appointed directors (Lorraine Bardeen and Jennifer Leuer) collectively bring decades of digital expertise to the company, with Bardeen's experience as enterprise CTO at Microsoft, and Leuer serving as CEO of cybersecurity firm CyberScout.
We look forward to seeing what the new executive leadership brings to CLCT, and hope to see the appointments ultimately help drive renewed senior focus on digital innovation and shareholder value.

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