The board of Ugg maker Deckers Outdoor is being warned it may get the boot if a sale of the company doesn’t happen soon.
An activist investor on Wednesday nominated a full 10-person slate of candidates to Deckers’ board, citing its lack of “proper oversight.”
Deckers announced in April that it hired advisers to help it complete a strategic review process, which could include a sale.
The activist, Marcato Capital, led by Bill Ackman-protégé Mick McGuire, critiqued the process in June, saying it lacked transparency.
With a deadline to nominate board members looming, Marcato got more aggressive.
“Should the company’s process not culminate in a desirable outcome, we believe the entire board must be replaced,” McGuire said in a statement.
Marcato announced a 6.1 percent stake in Deckers earlier this year and has said that the company has not been able to translate Ugg’s popularity into earnings growth.
Deckers shares rose 1.8 percent, or $1.12, to $64.62.


