JCP Investment Management Reaches Agreement with United Natural Foods for Board Representation

Olshan client JCP Investment Management reached an agreement with United Natural Foods pursuant to which the company agreed to appoint three new independent directors to its board of directors – including James C. Pappas of JCP – and three incumbent directors will depart the board. In connection with the agreement, the company announced that the board will oversee a financial review designed to enhance the company’s performance and drive shareholder value creation. Vice Chair of Olshan’s Shareholder Activism Practice Group Ryan Nebel, Rebecca Van Derlaske, Matt Traylor and Joe Ferrone represented JCP in connection with its investment in United Natural Foods.