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Cannell pushes for more independent board at Rightside

Investor wants other Rightside shareholders to vote “no” again this year.

Investor J. Carlo Cannell, whose clients collectively own about 8.5% of Rightside (NASDAQ:NAME), is continuing to push for changes to the company’s board.

On Friday, Cannell filed with the SEC and said Rightside’s board is exhibiting “value-destroying behavior” and needs “truly independent and rigorous representation.”

To that end, he’s asking shareholders to vote against Rightside’s slate of three board members at the upcoming annual meeting.

He made the same request last year but it didn’t go anywhere.

He also said he’s going to release “presentations that highlight severe errors of judgment by principals and affiliates of Oak Investment Partners, a representative of which currently serves on the Board of Rightside. Cannell is preparing to release these presentations to Rightside shareholders by and by.”

Cannell has identified ten board candidates that he wants Rightside to interview.

I reached out to Cannell’s firm on Friday via phone and email to ask for more details about what he doesn’t like about the company’s current strategy. I have not received a response yet.

He has previously voiced his displeasure over the company’s focus on new top level domain names. He later said he approved of the company’s sale of eNom but not the price.

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Author: Andrew Allemann

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