Fortrea Holdings Adds Russell to Board in Connection With Starboard Agreement

Dow Jones

02-22

By Josh Beckerman

Contract-research organization Fortrea Holdings will appoint Erin L. Russell to its board in connection with a cooperation agreement with activist investor Starboard Value.

Starboard, which reported a stake in October 2023, now owns about 5.4% of Fortrea.

Russell serves on the boards of Modivcare, eHealth and Kadant, and was a principal of Vestar Capital Partners.

Starboard has a right under the agreement to appoint a Starboard representative to the board in certain circumstances beginning in August.

Activist investor Corvex Management disclosed a Fortrea stake in a 13-F filing in November.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

February 21, 2025 18:40 ET (23:40 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Russell to its board in connection with a cooperation agreement with activist investor Starboard Value. \n\n\n  Starboard, which reported a stake in October 2023, now owns about 5.4% of Fortrea. \n\n\n  Russell serves on the boards of Modivcare, eHealth and Kadant, and was a principal of Vestar Capital Partners. \n\n\n  Starboard has a right under the agreement to appoint a Starboard representative to the board in certain circumstances beginning in August. \n\n\n  Activist investor Corvex Management disclosed a Fortrea stake in a 13-F filing in November. \n\n\n \n\n\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 21, 2025 18:40 ET (23:40 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}