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)
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