Juniper Networks on Tuesday named two independent directors to its board and said activist investor Elliott Management would support the network gear maker’s nominations.
Juniper Networks Adds Two Directors in Agreement With Elliott
Activist investor gets its way.
Juniper Networks
The Wall Street Journal reported in December that Juniper and Paul Singer-controlled Elliott were in talks about adding a number of new directors to the company’s board.
Elliott and its associates held an 8.7 percent stake in Juniper as of November.
Juniper appointed Jim Dolce and Rahul Merchant to its board, and said Elliott would vote in favor of the company’s nominees at its annual meeting.
Elliott has pushed for changes or a sale at enterprise technology companies such as EMC, Riverbed Technology and NetApp in the past few years.
Juniper bowed to Elliott’s demands last February, when it agreed to appoint former Cisco Systems executives Kevin DeNuccio and Gary Daichendt as directors to its board.
(Reporting By Sai Sachin R in Bengaluru)
This article originally appeared on Recode.net.
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