ArlingtonAsset Investment Corp. shareholder Imation Corp., acting in concertwith a fund affiliated with Clinton Group Inc., introduced its of candidates to stand forelection to Arlington's board at the 2016 annual shareholder meeting.
The candidates are Scott Arnold, managing director atClinton Group and a senior portfolio manager focusing on asset-backedsecurities and private equity; Barry Kasoff, founder and CEO of RealizationServices and a director of Imation; Brian Maillian, CEO of Whitestone GlobalPartners and the senior managing director of Bonwick Capital Partners LLP;Raymond Mikulich, managing partner of Ridgeline Capital Group and chairman ofAltus Group Ltd.; and Donald Putnam, founder and CEO of Grail Partners.
In a letter to shareholders, Imation said Arlington's recentstock underperformance has been accompanied by an acceleration in the worseningof financial metrics. The shareholder also mentioned Arlington's executives'compensation and claims that it is not aligned with shareholder interests.
"In summary, our proposal is simple," Imation saidin its letter. "We seek to put in place a board that is better suited, inour view, to oversee the strategy of the company going forward."