Jana Partners Presses Cooper to Replace CEO

Jana Partners sent a letter to Cooper Companies board on September 18, 2026 calling for an immediate external CEO search and the appointment of a new board chair. The activist also urged evaluation of asset sales, including CooperSurgical fertility and medical device assets, and engagement of potential buyers for CooperVision. Jana owns about 3.58 million shares, a 1.8% stake, according to its latest regulatory filing. Jana criticized Cooper's handling of excess inventory held by CooperVision customers, urged linking executive pay more closely to performance, and urged hiring an outside adviser for manufacturing and supply-chain cost savings at CooperVision. Cooper had lowered its annual forecasts the prior week and ended a review of options for its CooperSurgical unit without a sale. In premarket trading, Cooper shares were up 0.60% to $54.10 after closing 1.53% lower Thursday. No contested claims found. Available coverage does not report a response from Cooper.