(Reuters) Airline caterer Gategroup on Monday renominated a board member it had sought to oust and said its chairman would quit next year, handing partial victory to hedge funds pushing the company to shake up leadership and change strategy.The Swiss group’s shares rose 2.2 percent by 1100 GMT.Director Gerard van Kesteren, a former Kuehne & Nagel finance chief, will be proposed for re-election along with all other board members, a reversal of Gategroup’s original plan to kick him off the panel.
Hedge Funds Win As Gategroup Keeps Van Kesteren On Board
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