Obagi Medical Products, Inc. ("Obagi" or the "Company") OMPI, a
leader in topical aesthetic and therapeutic skin health systems, today
confirmed that Voce Capital has submitted to the Company a notice of intent to
nominate a slate of candidates to replace the Obagi Board of Directors at the
Company's 2013 Annual Meeting of Stockholders.
Obagi issued the following statement:
The Obagi Board of Directors and management team are committed to acting in
the best interests of the Company and its stockholders, including considering
options that fully reflect the value and prospects of the Company. The Board
is actively engaged in overseeing management's execution of the Company's
strategic plan, which includes further penetrating its existing physician
channel, launching its e-commerce platform and expanding in international
markets. The Board is confident that this strategy will result in significant
value for all stockholders.
Obagi noted that its Board of Directors is comprised of seven highly qualified
and experienced directors, six of whom are independent and all of whom are
elected annually. Obagi's directors are proven business leaders with a broad
range of experience in healthcare, cosmetics, consumer products, e-commerce,
finance and other areas important to Obagi's business. On August 2, 2012,
Obagi added a new independent director, Kristina M. Leslie, who has
significant experience serving as a director on public company boards, as well
as expertise in finance, accounting, cosmetics and the operation of e-commerce
platforms.
The Company will review the nomination notice when received in accordance with
the Company's bylaws and applicable law, and will provide stockholders with
proxy materials, including a proxy card, in connection with the 2013 Annual
Meeting of Stockholders in due course.
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