Activist Ananym Capital Management is urging Henry Schein (HSIC) to refresh its board, cut costs, tackle succession planning and consider selling its medical distribution business, Svea Herbst-Bayliss of Reuters reports, citing sources close to the matter. A sale of the medical distribution business could help drive up the share price by 20% while the company’s earnings could jump by 35% if spending were curtailed, Ananym has told Schein executives, according to the Reuters’ sources. Ananym argues that Schein needs new board members and ultimately a new CEO to tackle spending that has spiraled out of control, integrate recent acquisitions and nurture and hold onto new talent, the sources added.
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