Dye & Durham Shares Gain as Matthew Proud to Step Down (1)

(Adds share move, notes activist pressure and sale plans in bullets)

Dye & Durham shares jump as much as 14% in Toronto after the announced Matthew Proud planned to step down as CEO and would remain in the role for about three months or until the board has found a successor.

• Proud plans “to remain a stakeholder and advocate for Dye & Durham”
• While the company had been exploring a sale, activist investor Engine Capital LP had demanded a change of management
  • NOTE: Nov. 20, Dye & Durham Pauses Sale After Investors Push Back on Deal Talks
  • NOTE: Oct. 23, ...