Primary stakeholder calls for Daktronics' leadership to step down
The largest stakeholder in Daktronics is urging new leadership at the company based on what they say is underlying dysfunction that has been evident for years.
Alta Fox Capital Management cites hundreds of millions of dollars in equity market decline during the tenure of Chairman and CEO Reece Kurtenbach.
Alta Fox owns just under 6 percent of Daktronics’ stock.
Connor Haley is the managing partner of Alta Fox. He said he fears for South Dakotans who depend on Daktronics for jobs and retirement security.
Alta Fox issued a statement insisting on removing Kurtenbach and CFO Shelia Anderson who they said are the root of the problem.
Haley cites nepotism, apparent biases, and lack of management oversight in the daily operations of Daktronics.
Daktronics has not responded to request for comment.