YETI Holdings, Inc. announced on March 17, 2025, that it has entered into a cooperation agreement with activist stockholder Engaged Capital, LLC. As part of this agreement, YETI will expand its Board of Directors to 10 members.
The company appointed J. Magnus Welander, former CEO of Thule Group AB, and Arne Arens, former CEO of Boardriders and global brand president of The North Face, as new independent directors, effective March 24, 2025. These appointments bring extensive experience in product development and international expansion to YETI's board.
Under the terms of the agreement, Engaged Capital has agreed to withdraw its director nomination notice and abide by certain voting and standstill restrictions. This amicable resolution with an activist investor is expected to support YETI's growth initiatives and enhance communication with the investment community.
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