Starboard withdrew its director nominations at LivePerson
Key summary: In May '23, Starboard nominated directors due to financial concerns but withdrew in July '23. Previously in Feb '22, nominated directors and in July '22, an agreement was reached to appoint directors.Market Cap: $350 million | LivePerson, Inc., together with its subsidiaries, provides conversational commerce solutions..
On May 5, 2023, Starboard delivered a letter to the shareholders nominating a slate of director candidates for election to the board at the 2023 AGM. It expressed its serious concerns about the company's deteriorating financial and stock price performance and the severe lack of competent leadership under CEO Robert LoCascio. Source
On July 24, 2023, Starboard withdrew its previously submitted notice of intent to nominate three persons for election to the board at the 2023 AGM. Source
Past
On February 25, 2022, Starboard (8.5%) a letter to the company nominating a slate of director candidates, including Peter A. Feld, John R. McCormack, Vanessa Pegueros and Yael Zheng , for election to the Board at the 2022 AGM. Source
On April 7, 2022, Starboard (9.7%) delivered a letter to the Board highlighting its concerns with the company's stock price underperformance, deteriorating financial performance, missed expectations, execution issues and poor corporate governance practices. Further, it stated that it remains open to working constructively with the company to reach a mutually agreeable resolution.
On April 20, 2022, Starboard (9.7%) filed proxy materials seeking support for its nominees.
On May 2, 2022, Starboard (9.7%) filed proxy materials seeking support for its nominees.
On May 9, 2022, Starboard (9.7%) delivered a letter to the shareholders reiterating its concerns with the performance of the company and seeks support for its nominees at the upcoming AGM.
On May 31, 2022, Starboard (94%) delivered a letter to the shareholders reiterating its concerns and seeks support for its nominees at the upcoming AGM.
On July 20, 2022, Starboard entered into an agreement with the company and pursuant to it, the company agreed to appoint one director candidate to be identified by Starboard and one director candidate to be identified by the company.