Starboard nominates directors to Alight’s board. A plan to improve margins could be on the horizon
Publishing timestamp: 2024-02-24 07:17:14
Summary
Starboard Value LP has nominated four director candidates for election to the board of Alight Solutions in 2024. Alight Solutions, a company that went public through a SPAC, is facing issues such as high leverage, depressed margins, and a CEO with limited benefits administration experience. Starboard believes that adding their nominees to the board could help improve margins and overall performance of the company. The deadline for nominations was Feb. 17, and Starboard made these nominations to preserve their options as they speak privately with Alight. The addition of Starboard directors to the board could potentially increase free cash flow and investor confidence in Alight Solutions.
Sentiment: MIXED
Tickers: ALIT,
Keywords: alight inc, business news, breaking news: investing, hedge funds, investment strategy,
Source: https://www.cnbc.com/2024/02/24/activist-starboard-nominates-directors-to-alights-board.html