By Denny Jacob
Qorvo said it will increase the size of its board and add one of activist investor Starboard Value's picks to its director nominees in its proxy statement for its annual shareholder meeting.
The Greensboro, N.C., chipmaker said it will include Peter Feld as one of its director nominees. The board will recommend that shareholders vote in favor of all of its director nominees, including Feld, at the annual meeting, said the company.
Qorvo's board will increase to 10 directors from nine, the company said.
Starboard agreed to rescind its nomination notice in response to the company's intention to nominate Feld.
Feld is a managing member, portfolio manager and head of research at Starboard.
The resolution between the two sides comes months after Starboard built a big stake in Qorvo, as The Wall Street Journal reported in January.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
Qorvo said it will add Starboard Value's pick to its director nominees in its proxy statement for its annual shareholder meeting. "Qorvo to Add Starboard's Feld to Director Nominees, Expand Board Size" at 6:23 a.m. ET incorrectly said Starboard had multiple nominees.
(END) Dow Jones Newswires
May 19, 2025 07:46 ET (11:46 GMT)
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