Cannae Holdings seeks shareholder support for director slate

Cannae Holdings Inc. (NYSE: CNNE) urged shareholders to vote for its four director nominees ahead of the December 12 annual meeting. The company is facing a challenge from hedge fund Carronade Capital, which has nominated its own slate of directors.

Cannae recommended shareholders vote for Erika Meinhardt, Barry B. Moullet, James B. Stallings Jr., and Frank P. Willey on the white proxy card. The company stated that Carronade's nominees have experience primarily in distressed debt and restructuring, which Cannae characterized as irrelevant to its strategy.

The company outlined the backgrounds of its nominees. Stallings serves as Managing Partner at PS27 Ventures and previously held senior roles at IBM Corporation for over 20 years. He currently serves as a director at Fidelity National Information Services Inc. (NYSE: FIS). Moullet has executive experience in the foodservice industry, including roles as Chief Supply Chain Officer at Focus Brands Inc. and Darden Restaurants Inc.

Meinhardt brings over 30 years of business leadership experience, including executive roles at Fidelity National Financial Inc. (NYSE: FNF). Willey previously served as Vice Chairman, President and General Counsel of FNF and currently serves as Executive Vice Chairman and Audit Committee Chair of Commercial Bank of California.

Over the past 21 months, Cannae appointed an independent chairman, added three new independent directors, initiated board declassification, and internalized its management structure, which the company said reduced costs by 81%.

Shareholders of record as of October 30 are entitled to vote at the annual meeting. The information is based on a company press release.

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