Activist Investor Engaged Capital Targets VF Corp., Advocates for Cost Cuts and Board Changes

Engaged Capital, an activist investment firm, has disclosed a stake in VF Corporation, the parent company of Vans and The North Face. They're advocating for significant changes, including a $300 million cost-cutting initiative and alterations to the board structure. VF Corp. shares surged by 14% in response, settling at $18.45, with Engaged suggesting that this could rise to $46 per share within three years if their proposed measures are enacted.