Activist Investing Today: Barington’s Mitarotonda on Avon, Outback Steakhouse and Xerium

James Mitarotonda, who has run activist fund Barington Capital since 2000, says he takes a private-equity approach to public market investments in companies that frequently have high barriers to entry. However, Mitarotonda acknowledges that he will launch a director-election fight if necessary. For example, Barington is seeking to install two directors onto the board of Xerium Technologies as part of an effort to drive the paper machine manufacturer to explore a "strategic transaction that would facilitate the refinancing of its debt to more favorable terms." Beyond, Xerium, Mitarotonda spoke to The Deal about his efforts at Bloomin Brands and Avon, where he has a directorship.