Jana Partners urges Cooper to replace CEO and consider asset sales, WSJ reports
Sept 17 (Reuters) — Activist investor Jana Partners has urged contact-lens maker Cooper Cos to replace its CEO, appoint a new board chair, and consider selling parts of the business, the Wall Street Journal reported on Thursday. Shares of Cooper rose 2.3% in after-market trading following the report. The stock closed at $53.78 on Thursday. Jana said in a letter reviewed by the WSJ that Cooper needs an urgent overhaul to address what it described as "chronic underperformance" and shortcomings in inventory and capital-spending management. Jana also called on the company to engage with potential buyers of its contact-lens business and consider divesting fertility and medical-device assets. Jana and Cooper could not immediately be reached for comment outside regular business hours. Cooper has a market value of about $10.23 billion, Its shares have fallen 34.4% so far this year. The company, which makes contact lenses and vision-care products through its CooperVision unit and offers women's
Sept 17 (Reuters) — Activist investor Jana Partners has urged contact-lens maker Cooper Cos to replace its CEO, appoint a new board chair, and consider selling parts of the business, the Wall Street Journal reported on Thursday. 3% in after-market trading following the report. 78 on Thursday. Jana said in a letter reviewed by the WSJ that Cooper needs an urgent overhaul to address what it described as "chronic underperformance" and shortcomings in inventory and capital-spending management.
Jana also called on the company to engage with potential buyers of its contact-lens business and consider divesting fertility and medical-device assets. Jana and Cooper could not immediately be reached for comment outside regular business hours. 4% so far this year. The company, which makes contact lenses and vision-care products through its CooperVision unit and offers women's health and fertility products via CooperSurgical, has come under activist pressure since 2025 to improve its operations.
Cooper launched a strategic review in December aimed at improving performance, expanding market share, boosting efficiency, and enhancing returns through capital allocation initiatives. com; +91 7362903319;)