Marcato Capital Ups Demands, Wants Seat On Lear Board

Mick McGuire, a former partner at Bill Ackman's Pershing Square, has expressed a wish to have representatives of his fund, Marcato Capital Management, on the board of Lear Corporation (NYSE:LEA). The intention was stated in an SEC filing which showed Marcato now owns 5.9% of the automotive supplier.

An addendum of a document filed today with the Securities and Exchange Commission said that "Mr. McGuire could be considered to have an interest in the proposed nomination of candidates for election to the Board of Directors." The note goes on to suggest the nomination of three people associated with the firm, including McGuire himself.

This...