TrueBlue Responds to Activist Investor's Statements

Company says it remains open to constructive engagement with EHS Investments

Mar. 3, 2026 at 9:05pm

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TrueBlue, Inc. (NYSE: TBI) issued a statement responding to recent comments made by activist investor EHS Investments. The company said its plans to improve profitability and lower costs are progressing, and it remains open to working constructively with EHS. TrueBlue also noted that it has engaged with shareholders on board refreshment, resulting in the appointments of two new highly qualified directors.

Why it matters

This response highlights the ongoing tension between TrueBlue and activist investor EHS Investments, which has launched a proxy contest. The outcome could impact the company's strategic direction and leadership, making it an important story for investors and the broader business community.

The details

In its statement, TrueBlue refuted EHS's claims that the company has refused to engage, stating that EHS made a settlement proposal just last week. TrueBlue said it attempted to schedule a meeting with EHS's legal counsel to present a counterproposal, but EHS still decided to issue a press release. The company also highlighted its recent board refreshment process, which included the appointment of two new directors endorsed by its largest shareholder.

  • On February 18, 2026, TrueBlue reported its second consecutive quarter of organic revenue growth and detailed plans to continue improving profitability.
  • Last week, EHS made a settlement proposal to TrueBlue.

The players

TrueBlue, Inc.

A leading provider of specialized workforce solutions, operating brands such as PeopleReady, PeopleScout, and Staff Management | SMX.

EHS Investments

An activist investor that has launched a proxy contest against TrueBlue.

William Greenblatt

One of the two new directors appointed to TrueBlue's board, with decades of industry experience and proven operational and commercial expertise.

William Seward

The other new director appointed to TrueBlue's board, also with extensive industry experience and expertise.

Eric Su

A representative of EHS Investments who was interviewed as part of TrueBlue's board refreshment process.

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What’s next

The judge in the case will decide on Tuesday whether or not to allow EHS Investments to proceed with its proxy contest.

The takeaway

This ongoing dispute between TrueBlue and the activist investor EHS Investments highlights the challenges companies can face when dealing with shareholder activism, and the importance of maintaining open communication and a willingness to engage constructively, even in the face of disagreement.