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

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.