Jana Partners urges Cooper to replace CEO and consider asset sales, WSJ reports

Sept. 17 (Reuters) - Activist investor Jana Partners has urged contact-lens maker Cooper Cos COO.O to replace its CEO, appoint a new board chair, and consider selling parts of the business, the Wall Street Journal reported on Thursday.

Shares of Cooper rose 2.3% in after-market trading following the report. The stock closed at $53.78 on Thursday.

• Reuters reported in October 2025 that Jana had built a stake in Cooper and planned to push for strategic alternatives and improved capital allocation.
• Jana said in a letter reviewed by the WSJ that Cooper needs an urgent overhaul to address what it described as "chronic underperformance" and shortcomings in inventory and capital-spending management.
• Jana also called on the company to engage with potential buyers of its contact-lens business and consider divesting fertility and medical-device assets, according to the report.
• Jana and Cooper could not immediately be reached for comment outside regular business hours.
• Cooper has a market value of about $10.23 billion, according to LSEG data. Its shares have fallen 34.4% so far this year.
• The company, which makes contact lenses and vision-care products through its CooperVision unit and offers women's health and fertility products via CooperSurgical, has come under activist pressure since 2025 to improve its operations.
• Cooper launched a strategic review in December aimed at improving performance, expanding market share, boosting efficiency, and enhancing returns through capital allocation initiatives.