The family owner-managers of Dillard's, the American retailer, have been castigated by two activist hedge fund investors who are calling for the family to be removed from the company.
In a letter to the US Securities and Exchange Commission, Barington Capital Group and Clinton Group wrote that, with the exception of third-generation William Dillard III, "each of the other members of the Dillard family is overpaid and under-qualified for the positions they hold and can be readily replaced with more talented retailers."
