Please disable your adblock and script blockers to view this page

Activist investor Starboard, which has track record of big returns in tech, finds its next target


CVLT
Hedvig
Starboard
Commvault
Elliott Management
Sanjay Mirchandani
the Board
CNBC
CNBC LLC
All Rights Reserved
Division
NBCUniversalData
Global Business and Financial News
Market Data and Analysis


Logged InStarboard
Elliott

No matching tags

No matching tags

No matching tags

No matching tags

No matching tags

Positivity     36.00%   
   Negativity   64.00%
The New York Times
SOURCE: https://www.cnbc.com/2020/04/18/activist-investor-starboard-which-has-track-record-of-big-returns-in-tech-finds-its-next-target.html
Write a review: CNBC
Summary

The best way to accomplish this would be through a board refreshment, and this is a board that can use refreshing — three of the four directors up for re-election have an average tenure of 17 years.Starboard has a significant history of improving margins at technology companies from a board level, and has nominated a qualified slate of directors with backgrounds spanning operations, finance, data management and storage, technology, cybersecurity, mergers and acquisitions, cloud computing, strategic transformation, and public company governance.Commvault was previously engaged by Elliott Management through a 13D filing made on April 2, 2018 and Elliott entered into a cooperation agreement with the company on May 1, 2018 for two board seats, both of whom are presently on the board and one of whom is up for re-election in 2020 and would be replaced by a Starboard nominee if Starboard is successful.However, Elliott has since sold its position, so any activist pressure was immediately off the company after Elliott's exit.Once there is fresh blood and perspective on the board, the reconstituted board can decide how to progress.

As said here by Kenneth Squire