Sequential Brands To Explore Strategic Alternatives; CEO Karen Murray Steps Down

(RTTNews) - Consumer brands company Sequential Brands Group, Inc. (SQBG) announced Monday that its Board of Directors is conducting a broad review of strategic alternatives focused on maximizing shareholder value, including divestiture of one or more existing brands, the acquisition of one or more new brands, a stock buyback program, and other initiatives.

The Board has engaged Stifel to serve as its exclusive financial advisor to assist in this process.

The company said there is no certainty that the review of strategic alternatives will result in the Company pursuing a particular transaction or completing any such transaction.

The Company also announced that Karen Murray has stepped down as Director and Chief Executive Officer of the Company, but will continue to serve as Senior Advisor and assist the Company on strategic opportunities.

The Board has begun a search to identify the Company's new CEO. Chad Wagenheim, EVP of Strategic Development and Operations, has been promoted to President and will assist the Company during this transition period.