Business
LivePerson Announces Agreement with Starboard Value
NEW YORK, July 21, 2022 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) ("LivePerson" or the "Company"), a global leader in Conversational AI, today announced
About this update from Liveperson, Inc.
[{"type":"text","content":"NEW YORK, July 21, 2022 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) (\"LivePerson\" or the \"Company\"), a global leader in Conversational AI, today announced that it has entered into an agreement (the \"Agreement\") with Starboard Value LP and certain of its affiliates (together, \"Starboard\").\n\n \n \n \n \n \n \n\n \nAs part of the Agreement, the LivePerson Board of Directors (the \"Board\") 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.\nIn addition, current director Peter Block will retire from the Board at the time of the Company's 2022 Annual Meeting of Shareholders (the \"Annual Meeting\") and pursuant to the Agreement, 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, after which 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.\nCurrent director Jill Layfield has been appointed to the newly created role of Lead Independent Director. Layfield has been a strong voice on the Board and is an experienced operational leader with deep expertise in consumer-facing online, offline and social commerce, digital marketing and digital product. She is known for making high-quality customer care a key strategic differentiator and has a strong track record of using technology to transform customer experience.\n\"For more than 25 years, we have maintained our industry leadership in a constantly evolving market through purposeful innovation,\" said Rob LoCascio, Founder, Chairman and CEO of LivePerson. \"As our company continues to evolve, adding new Board members whose skill sets complement those of our current Board aligns with our ethos of continually evolving the business to deliver value to our shareholders, clients and employees.\"\nLoCascio continued \"We are pleased to have reached this constructive outcome with Starboard, which we believe is in the best interests of our shareholders. We look forward to welcoming new directors to our Board to support our long term strategy, continued market leadership and execution on our plans to deliver profitable growth and enhanced value for all sh...