Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement.
Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this.
CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company.
Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight.
Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.
Persons:
Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire
Organizations:
ExCo, CR Consulting Alliance, FIS, 13D
Locations:
Boyden, SPACs