Legion Partners' Abandons Proxy Fight At Perry Ellis

A little late to this, but here's the jist, Perry Ellis' CEO stepped down last week and brought on two new directors. That was enough to please Legion Partners.One of the directors is a former PVH Corp. executive. And yet, one big issue still stands, the new CEO will be the former CEO's son.  Seems like a small win for Legion and its sponsor CalSTRS. But they will still be looking to de-staggar the board at the annual meeting in a couple months.