Cato Corp. criticized over board makeup

Cato Corp. criticized over board makeup

An activist shareholder is criticizing Charlotte-based Cato Corp. for its all-male board, in the latest backlash the women’s fashion retailer is getting over the issue. The shareholder, Ohio-based Needmor Fund, describes Cato’s board as consisting of “all white men,” according to a statement a Needmor representative is expected to read Friday at Cato’s annual meeting of shareholders. Cato, which operates 1,300 stores in 33 states, has been facing growing scrutiny from some shareholders and others for its board composition.

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