There are 14 personnel on the BoD.

DE Shaw influenced two of those appointments and have an agreement which will allow them to name a third at some point.

It is perplexing to me how 3 members of a board of 14, which represent the interests of Shaw's 1% share of the company, could have "de facto control".

FedEx raises dividend, adds directors in agreement with D.E. Shaw

I think it is just as important to recognize that McKinsey and Company are also in Fred's House and seem to be advising Raj and the gang to slash/and/burn to increase the bottom line.

Certainly the combination of Shaw influencing Board decisions and McKinsey consulting on how to increase shareholder benefit, with the addition of Mr JD in the C Suite team, is going to equal some strange times ahead for organized and nonunionized labor at Purple.