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Corona parent Constellation Brands shares on pace for record as big investor deepens its involvement to make it less of a family-controlled company

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Shares of Constellation Brands were on track to hit a record high, after a large investor took steps to wield greater influence over the company.

Shares of Constellation Brands Inc. were on track to hit a record high, a day after a large investor took steps to wield greater influence over the beer and wine maker’s board — a move Wall Street analysts said would help further steer corporate governance away from family control.The... Shares of Constellation Brands Inc.

The terms for both members will expire at Constellation’s 2024 annual shareholder meeting. Over that time, Constellation has agreed to limit the size of its board to 13 members. “We view the board additions favorably , seeing each member as having a good reputation, with sizable public company operations, strategic planning, and capital prioritization/allocation experience,” they continued.

 

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