Calls on the Board to Initiate a Parallel Process to Explore Strategic Alternatives while Searching for a New CEO
Believes that Care.com Could be Worth $14.00 to $19.40 per share Today in a Transaction
Recommends Steps be Taken Immediately to Improve Care.com's Corporate Governance, Rationalize its Cost Structure and Optimize its Balance Sheet
NEW YORK, Aug. 15, 2019 /PRNewswire/ -- Engine Capital, L.P. (together with its affiliates, "Engine"), a sizeable shareholder of Care.com, Inc. (the "Company") (CRCM), today issued an open letter to the Company's Board of Directors (the "Board") encouraging the Board to initiate a parallel process to explore strategic alternatives while searching for a new Chief Executive Officer and implementing various value enhancing initiatives identified by Engine.
The full text of Engine's letter to the Board can be viewed at the following link:
About Engine Capital
Engine Capital is a value-oriented special situations fund that invests both actively and passively in companies undergoing change.
Engine Capital, L.P.