Macy's names 2 independent directors as part of agreement with activist investor

Macy’s said Wednesday it has named two independent directors to its board that were pushed by activist investor Arkhouse Management, ending a proxy fight that aimed to replace most of the board and to acquire the iconic chain. Macy’s said the directors _ Ric Clark and Rick Markee _ will join the finance committee effective immediately and oversee the evaluation of and make recommendations to the full board regarding the acquisition proposal submitted by Arkhouse and Brigade Capital Management that Macy's had opposed. Arkhouse previously nominated the two directors in February, after Macy’s rejected its initial takeover bid. It was part of a big push by Arkhouse to get a total of nine new board members and ignited a proxy fight.