financeHotel Dive··1 min·For: Investor, Owner, GM
Braemar Faces Board Challenge From Top Shareholder Al Shams
Al Shams Investments Limited, the largest shareholder in Braemar Hotels & Resorts, has nominated a rival slate of five independent directors ahead of the November 13 annual meeting. The move escalates a proxy battle triggered by Braemar's plan to split from Ashford Inc. and become a self-managed trust.
Key Takeaways
- 1Al Shams nominated five candidates, including Sir Michael Peat and Jennifer Bitterman, to Braemar's board.
- 2The shareholder clash stems from Braemar's June decision to internalize management and separate from Ashford Inc.
- 3Braemar previously stated all current directors except CEO Richard Stockton would step down as part of its restructuring.
Source: Hotel Dive
Keep reading
Our reporting
More in finance