Rogers Enters Into Agreement With Starboard; Appoints Two Independent Directors

(RTTNews) - Rogers Corp. (ROG) said Monday that it has entered into an agreement with Starboard Value LP. Two independent directors have joined the Board.

As per the deal, Starboard has agreed to withdraw the director nominations it previously submitted to the company and has entered into customary standstill and voting commitments.

Under the terms of the agreement, Rogers has appointed to the Board Anne Roby, former Executive Vice President at Linde plc., and Armand Lauzon, Jr., former President and Chief Executive Officer at C&D Technologies Inc., as new independent directors.

Upon completion of the Annual Meeting, the Board will be composed of nine members, eight of whom are independent, Rogers said in a statement.