Tegna CEO Dave Lougee’s apology to former board nominee Adonis Hoffman over a racially charged incident has been accepted, but Hoffman is amping up criticism of the company’s response.The back-and-forth is occurring against the backdrop of a proxy battle for Tegna.
The company has rebuffed acquisition overtures despite the preferences of some of its privately held investors. One stakeholder — hedge fund Standard General — is calling for a shakeup of the board and had initially nominated Hoffman for a seat.In a sequence of events which came fully to light earlier this month, Hoffman, who is Black, went to an industry luncheon in Washington in 2014 that was also attended by Lougee.
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