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Algonquin Power & Utilities Corp. to Add Brett Carter and Christopher Lopez to the Board of Directors
Algonquin Power & Utilities Corp. to Add Brett Carter and Christopher Lopez to the Board of D...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n \n \n \n Algonquin Power & Utilities Corp. to Add Brett Carter and Christopher Lopez to the Board of Directors\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n Algonquin Power & Utilities Corp. to Add Brett Carter and Christopher Lopez to the Board of Directors\n \n \n Canada NewsWire\n \n \n \n \n \n Enters Into Cooperation Agreement with Starboard\n \n \n \n \n \n OAKVILLE, ON\n \n \n ,\n \n \n April 18, 2024\n \n \n /CNW/ - Algonquin Power & Utilities Corp. (\"Algonquin\", \"AQN\" or the \"Company\") (TSX: AQN) (NYSE: AQN) today announced that its Board of Directors (the \"Board\") intends to add\n \n Brett Carter\n \n , former Executive Vice President and Group President, Utilities and Chief Customer Officer of Xcel Energy Inc., and\n \n Christopher Lopez\n \n , outgoing Executive Vice President, Chief Financial and Regulatory Officer of Hydro One Limited, to the Board. During the first quarter's ordinary nominee review process for Algonquin's 2024 Annual Meeting of Shareholders (the \"Annual Meeting\"), Masheed Saidi had advised the Board that she does not intend to stand for reelection. In addition,\n \n Kenneth Moore\n \n , the Chair of the Board, has informed the Board of his intention to retire effective as of the Annual Meeting and he will therefore not stand for reelection. As a result, following the Annual Meeting, Algonquin's Board will continue to be comprised of nine directors.\n \n \n \n \n \n \n \n \n \n In connection with the Board appointments, the Company and Starboard Value LP (together with its affiliates, \"Starboard\"), which own approximately 9.0% of Algonquin's outstanding common shares, have entered into a cooperation agreement (the \"Agreement\") dated\n \n April 18, 2024\n \n . Pursuant to the Agreement, Starboard has withdrawn its previously-announced director nominations for election and agreed to support the Company's nominees for election at the Annual Meeting. In addition, Starboard and the Company have agreed to customary standstill, voting and other provisions related to, among ot...