Box Investor Throws Support Behind Starboard Board Nominees
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A shareholder in Box Inc. has come forward saying they intend to vote in favor of a slate of directors put forth by activist investor Starboard Value, citing ongoing governance concerns at the software company.
Starboard, which owns an 8.6% stake in Box, has nominated three directors to the board. The New York-based hedge fund has raised numerous concerns about the company’s performance and governance, including its board’s decision take a $500 million investment from private equity giant KKR & Co. in April in exchange for preferred shares and a seat on the board.