NEW YORK, NY / ACCESSWIRE / March 24, 2017 / Earlier today Ephraim Fields of Echo Lake Capital issued the following letter to the Board of Directors of Command Center Inc.:
To the Members of the Board of Directors:
As longstanding shareholders of Command Center, Inc. (CCNI), we remain highly dissatisfied with the overall performance of the Company's Board of Directors. We believe many of you lack the appropriate skill set, motivation and sense of urgency necessary to fully maximize shareholder value. We look forward to the Company's upcoming annual meeting in May so that shareholders can vote on whether each of you should be entrusted to continue serving as board members.
Several of you have served on the Board for many years and during your tenures CCNI's stock price has dramatically underperformed.
Even worse, during your tenures many of you have collected relatively generous compensation packages but have personally bought very little, if any, shares of stock.
In general, we believe the investment community has lost confidence in your abilities to act in the best interests of shareholders. For some time we have been making suggestions as to how we believe you can maximize shareholder value. We would strongly encourage you to implement our suggestions.
Ephraim Fields at (212) 251-3381
SOURCE: Echo Lake Capital