The Board of Directors at Abercrombie & Fitch seems to be making a questionable move by agreeing to a new contract with CEO Michael Jeffries after dismal performance over the last couple of years. Jeffries is considered to be the founder of the modern company after its spin-off from Limited Brands, but Abercrombie has missed out completely on a lot of the changing trends impacting teen retailers. Activist investors have gotten involved with the company and I’d expect things to only heat up, but the fact that the Board isn’t engaging with investors after such miserable performance shows very questionable corporate governance.