MDC is starting the new year dealing with an activist shareholder who wants to replace three of its eight directors.
According to the Wall Street Journal, FrontFour Capital owns 5.3% of the Toronto-born, New York-based advertising holding company. In a filing with the Securities and Exchange Commission, FrontFour said MDC has performed poorly compared to other public advertising holding companies. MDC shares have fallen by about 75% in the last year.
MDC—which includes Anomaly, Union, Forsman & Bodenfors and Kenna among its Canadian operations—has also been exploring a sale since September. Just before the sale was announced, Scott Kauffman stepped down as chair and CEO, but remained on the board. FrontFour wants to replace him along with Irwin D. Simon and Clare Copeland.
•Tim Hortons has introduced a number of limited time sweet treats including Double Double Timbits, a Tiramisu donut, Caramel Fudge Hot Chocolate, Caramel Fudge French Vanilla and Caramel Fudge Lattes.
•Covergirl has signed Entertainment Tonight Canada host Sangita Patel as a face of the brand’s Simply Ageless Collection, which will go on sale this month.The collection includes foundations and concealers. “True beauty is loving yourself, at any age,” said Patel in a release. She just turned 40.
•Questrade has published two more of its hard-hitting TV spots from No Fixed Address showing investors calling BS on their financial advisors and taking their business to Questrade. You can see the ads here and here.
•Fresh sandwich and salad chain La Prep has tapped Toronto-based public affairs and public relations firm Enterprise as its agency of record. Enterprise will on influencer engagement and media relations. La Prep currently has more than 55 locations across Canada and plans on opening as many as 10 new locations in Ontario this year.