THE WHAT? Macy’s Inc. has appointed Richard Clark and Richard L. Markee as new independent directors, resolving a proxy fight with activist investor Arkhouse Management Co. This resolution ended the investor’s push for a significant overhaul involving nine new director nominees initially proposed for the upcoming shareholder meeting.
THE DETAILS Following the appointments, Arkhouse retracted its aggressive campaign to remake Macy’s board, which would have culminated in a substantial change at the May 17 shareholders’ meeting. By incorporating two of Arkhouse’s nominated directors, Macy’s has defused potential disruptions and tensions that could have arisen from the shareholder vote.
THE WHY? Despite the resolution on board appointments, the struggle for control over Macy’s continues, with Arkhouse and Brigade Capital Management still pursuing a takeover, now offering $24 per share, totaling $6.6 billion. This follows a previous unsuccessful bid valued at $5.8 billion, highlighting the ongoing financial battles and strategic disagreements between Macy’s and its activist investors.
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
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Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
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Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
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Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
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Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
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Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
