TrueBlue disputes EHS Investments' claims amid proxy contest

TrueBlue Inc. (NYSE: TBI) responded to statements from EHS Investments regarding ongoing proxy contest discussions, disputing claims that the company has refused to engage with the activist investor.

The workforce solutions company said EHS made a settlement proposal last week, and TrueBlue attempted to schedule a meeting with EHS' legal counsel to present a counterproposal before EHS issued its press release. TrueBlue noted this marks the second time EHS has released public statements while the company was either scheduled to meet or attempting to schedule discussions with the activist investor.

TrueBlue reported its second consecutive quarter of organic revenue growth on February 18, 2026, and outlined plans to improve profitability and reduce operating costs. The company expressed confidence these initiatives will generate margin improvement and free cash flow over time.

The company's board recently appointed William Greenblatt and William Seward as new directors following a shareholder engagement process. Both appointments were endorsed by TrueBlue's largest shareholder. The board also announced that two existing directors will step down at or before the 2026 annual meeting of shareholders. The refreshment process included an interview with Eric Su of EHS Investments.

TrueBlue stated it remains open to working with EHS and will continue acting in the interests of all shareholders. The company plans to provide additional details about its engagement with EHS in the background section of its proxy statement, which will be filed in the coming weeks.

Barclays is serving as financial advisor and Sidley Austin LLP as legal counsel to TrueBlue.

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