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Activist investor urges in favor of board changes at Capital Senior Living

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Activist investor urges in favor of board changes at Capital Senior Living

Capital Senior Living Corp. shareholder Cove Street Capital LLC recommended that the senior living operator hire a new CEO, among other changes at the board level, in a letter delivered to the company's board on Jan. 11.

The activist investor believes the board should be declassified, starting at the company's 2019 annual general meeting, and reorganized in order to account for "the poor results and dismal price of the company's equity."