Investor seeks shakeup at Pier I

New York investment management firm Alden Global Capital is not happy with the board — or the CEO — of Pier I Imports.



Alden, the retailer’s largest active institutional investor, is demanding a shakeup of the Pier 1 board, reported the Dallas Business Journal.



In a letter to chairman Terry London, Alden said the board and Pier 1 CEO Alex Smith have failed to produce meaningful earnings for the chain.



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