LivePerson Signs Deal With Starboard Value

(RTTNews) - LivePerson, Inc. (LPSN), a Conversational AI company, announced Thursday that it has entered into an agreement with Starboard Value LP and certain of its affiliates.

As part of the deal, LivePerson Board of Directors will appoint new independent directors pursuant to a cooperative selection process, with one nominee to be identified by Starboard and the other to be identified by LivePerson.

In addition, current director Peter Block will retire from the Board at the time of the company's 2022 Annual Meeting of Shareholders.

Pursuant to the deal, the vacancy created by Block's departure is expected to be filled by an additional independent director pursuant to a cooperative selection process under the Agreement.

Following this, the Board will be composed of nine members, eight of whom are independent and more than 50% of whom have joined the Board in the past six years.

Further, Current director Jill Layfield has been appointed to the newly created role of Lead Independent Director.

Starboard has agreed to withdraw its director nominations previously submitted to the company and vote all of its shares in favor of LivePerson's nominees at the Annual Meeting and has entered into other customary standstill and voting commitments.