Activist investor Starboard Value said on Jan. 21 it has nominated eight directors to the board of Corteva, seeking to oust the chief executive officer of the pesticide and seed maker.
Starboard, in a letter to Corteva's chairman, said it had identified someone new for the top job, but declined to name the person. The activist investor owns a 1.6% stake worth just over $500 million in Corteva, according to Refinitiv data.Jim Collins, CEO of Corteva Agriscience, a former division of DowDuPont, rings the opening bell at the New York Stock Exchange in New York, U.S., June 3, 2019.
richardbeales1 Question: they own less than 2% of the company, why do they seek so much control?
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