Starboard to Nominate Slate of Nine Highly Qualified Director Candidates for Election at Mellanox's 2018 Annual Meeting
Wed, Jan 17, 2018Mellanox Confirms Receipt of Director Nominations from Starboard Value
SUNNYVALE, CA. and YOKNEAM, ISRAEL – Jan. 17, 2018 – Mellanox Technologies, Ltd. (NASDAQ: MLNX), a leading supplier of high-performance, end-to-end smart interconnect solutions for data center servers and storage systems, today confirmed that affiliates of Starboard Value have nominated nine director candidates to stand for election to the Board of Directors at Mellanox’s 2018 Annual General Meeting of Shareholders. The Company issued the following statement:
We maintain an open dialogue with our shareholders and welcome constructive input toward our shared goal of enhancing shareholder value. Members of our Board of Directors and senior management team have held numerous discussions and meetings with Starboard during the past several months, including an in-person meeting at our facilities in Israel just Monday of this week. Despite our ongoing discussions and open engagement, however, Starboard made no attempt to discuss their nominees with us before publicly nominating director candidates, which we were first made aware of through the media today.
The Mellanox Board is comprised of nine highly qualified and experienced directors, all of whom are committed to creating value for Mellanox shareholders. The Board believes that it brings a diverse range of valuable and relevant skills, expertise and perspectives to drive performance and provide effective oversight. Further, Mellanox is strongly committed to best-in-class corporate governance and is recognized by ISS governance analysis as possessing the best governance profile, including the highest board structure score, amongst its peers.
The Mellanox Board takes its fiduciary duties seriously, is strongly committed to enhancing shareholder value and will continue to act in the best interests of the Company and all shareholders. Under the direction of our Board and management team, and with the support of our 2,900 talented employees worldwide, Mellanox has become a leader in innovative end-to-end solutions for connecting servers and storage platforms, and we hold the #1 or #2 position in many of the key markets in which we operate. In addition to our track record of sustained market leadership, the Company’s success under our leadership is also demonstrated by our solid financial performance.
The Mellanox Board is confident in the Company’s strategy to accelerate growth, transform our business and enhance shareholder value. We look forward to further discussing our key focus areas on our fourth quarter and fiscal year 2017 financial results conference call to be held Thursday, January 18, 2018, at 2 p.m. Pacific Time.
The Mellanox Board and management team have and will continue to act in the best interests of the Company and all shareholders.
Only mention I found for Starboard in the cc:
Before we turn to questions and answer portion of today’s call, I wanted to briefly address the recent announcement made by Starboard Value. As you saw, we issued a press release yesterday regarding this development. Mellanox remains committed to engage – engaging constructively with our shareholders toward our shared goal of creating value, and we are committed to taking the appropriate steps to ensure that Mellanox is best positioned to provide high return to our shareholders. |
