Humana Strikes Deal With Starboard to Add Two to Board
February 22 2022 - 7:45AM
Dow Jones News
By Will Feuer
Humana Inc. said it has reached a deal with activist hedge fund
Starboard Value LP that will see the company add two new
independent directors to its board.
The two new directors will be mutually agreed upon by Humana and
Starboard, the health and wellness company said. The first will be
appointed before Humana's annual meeting, the company said.
The new directors will replace incumbent directors who won't
stand for re-election in 2022 and 2023, respectively.
Humana reiterated its goal of long-term adjusted earnings per
share growth of 11% to 15%. The company is targeting $1 billion in
value creation by 2023, it said.
"We appreciate the constructive dialogue we have had with Humana
and are pleased to reach this agreement for the benefit of all
shareholders," Starboard Chief Executive Jeff Smith said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
February 22, 2022 08:30 ET (13:30 GMT)
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