Symantec brings 3 Starboard nominees to board of directors

News Broadband Global 18 SEP 2018
Symantec brings 3 Starboard nominees to board of directors
Symantec has named three new members to its board, decisions it says it took together with new shareholder Starboard. The activist investor owns about 5.8 percent of Symantec shares. Symantec also said it started a new company “refreshment.” 

The appointments include Starboard managing member Peter Feld and former McAfee CEO and AVG Technologies chairman Dale Fuller, both with immediate effect. Richard Hill, a former CEO of Novellus and current chairman of Marvell, will join after the company’s 2018 AGM, which has still not been scheduled. 

Existing members Robert Miller and Geraldine Laybourne will not stand for re-election. Following the new appointments and departures, the Symantec board will have 13 members. 

Feld said Starboard invested in Symantec because it sees an opportunity for substantial stockholder value creation.

Categories:

Internet

Companies:

McAfee,  Symantec

Regions:

Global

Tags:

Shareholders & subsidiaries, Corporate strategy, Officers & directors

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