Starboard reached agreement with Rogers Corp
Key summary: On Feb 6, 2023, Starboard nominated six directors to Rogers Corporation. On Feb 26, 2023, a settlement expanded the board and appointed two independent directors.
Market Cap: $2.7 billion | Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide.
On February 6, 2023, Starboard (6.5%) disclosed that on December 15, 2022, it has delivered a letter to the company nominating a slate of six director candidates for election to the Board at the 2023 AGM. Source
On February 26, 2023, the company entered into a settlement agreement with Starboard and pursuant to it, Starboard has agreed to withdraw its notice of shareholder nomination of its six director candidates, and the Company has agreed to temporarily increase the size of the board from ten (10) to twelve (12) and appoint Armand F. Lauzon, Jr. (the “First Independent Director”) and Anne K. Roby (the “Second Independent Director,” to the Board.