E.l.f. Must Make ‘Difficult Decisions’ To Recoup Shareholder Value, Activist Investor Says

A “sober” assessment of e.l.f.’s strategy and governance is “clearly warranted and long overdue,” says Marathon Partners founder and Managing Partner Mario Cibelli in a letter to the company’s board. E.l.f.’s share price has been on a steady decline as sales growth has slowed, with a roughly flat performance reported by the firm in November for the first three quarters of fiscal 2018.