Humana Strikes Deal With Starboard to Add Two to Board

 Humana Inc. said it has reached a deal with activist hedge fund Starboard Value LP that will see the company add two new independent directors to its board.

The two new directors will be mutually agreed upon by Humana and Starboard, the health and wellness company said. The first will be appointed before Humana's annual meeting, the company said.

The new directors will replace incumbent directors who won't stand for re-election in 2022 and 2023, respectively.

Humana reiterated its goal of long-term adjusted earnings per share growth of 11% to 15%. The company is targeting $1 billion in value creation by 2023, it said.

"We appreciate the constructive dialogue we have had with Humana and are pleased to reach this agreement for the benefit of all shareholders," Starboard Chief Executive Jeff Smith said.

https://www.marketscreener.com/quote/stock/HUMANA-INC-13000/news/Humana-Strikes-Deal-With-Starboard-to-Add-Two-to-Board-39542374/