Ashland chairman, three other directors targeted by Cruiser Capital

|About: Ashland Inc. (ASH)|By:, SA News Editor

Shareholder Cruiser Capital says it wants to replace four directors, including Chairman Bill Wulfsohn, at chemical company Ashland (ASH +0.6%).

"Should Bill Wulfsohn hold both the Chairman and CEO jobs?" the hedge fund writes in a new letter to shareholders, saying Wulfsohn has been paid $43M over four years even as the company has missed operational targets and its stock price has faltered.

Cruiser, which owns a 2.5% stake in ASH, has been pushing management for months to improve margins and again says it believes the company could be worth more than $125/share if improvements are made.

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