Alight (ALIT) has provided an update.
Alight, Inc. partnered with Starboard Value through a cooperation agreement, enhancing its board with two independent directors, Dave Guilmette and Coretha Rushing, and committing to governance and voting alignments until the 2025 Annual Meeting. This strategic move aims to stabilize leadership and align interests, with Starboard withdrawing its previous director nominations and agreeing to support the board’s recommendations. The agreement also includes customary standstill provisions, with Starboard voting in line with the board’s stance on various shareholder proposals, provided they retain a minimum share ownership. The company has also agreed to an investor day by the end of 2024 and will reimburse Starboard for expenses up to $625,000 related to their involvement.
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