Activist Investor Jana Partners Calls on Cooper Companies to Replace CEO, Sell Assets
Jana Partners, an activist investor with a growing stake in Cooper Companies (COO), is urging the company to replace its CEO and consider selling parts of its business. The call comes after Cooper cut its earnings and revenue forecasts for 2026 following underwhelming performance across segments like vision care and surgical products. Jana criticized Cooper's leadership, forecasting accuracy, capital allocation decisions, and a failed strategic review that aimed to sell the CooperSurgical division but did not materialize due to undervalued offers. The activist also highlighted concerns over inflated inventory in the CooperVision segment and called for an external CEO search, revised executive compensation metrics, and engagement with potential buyers. Cooper's CEO Albert White had previously stated continued ownership of CooperSurgical was optimal after a strategic review. Jana is now pushing for significant changes to improve accountability and unlock value.
Tickers: $COO
Topics: CEO change earnings guidance M&A activity strategic review