Η Starboard σχεδιάζει να αναλάβει τον έλεγχο του διοικητικού συμβουλίου της Corteva

Starboard Value LP is seeking to take control of agricultural giant Corteva Inc.’s board to replace its chief executive, according to people familiar with the matter. Starboard, led by CEO Jeff Smith, has privately nominated eight directors to Corteva’s 12-person board, the people stated. Starboard is seeking to remove Cortega Chief Executive Jim Collins over what the activist says is poor performance. It has an unnamed replacement in mind. Corteva, which was part of DowDuPont before it was spun out of the industrial conglomerate in 2019, is one of the world’s largest sellers of seeds and pesticides, with a market value of $33 billion.In October, Starboard disclosed a roughly 1.6% stake in Wilmington, Del. based Corteva. Mr. Smith stated in a presentation at the time that the company’s adjusted revenue before interest, taxes, depreciation and amortization were little-changed from when it took shape in 2019, lagging behind peers.