Concludes that Starboard Has Made a "Compelling Case" that Further Change is Required on the Board and that Majority Representation Appears "Necessary"
Recommends GCP Shareholders Vote to Elect Starboard's Nominees - Kevin Brown, Peter Feld, Clay Kiefaber, Marran Ogilvie, Linda Welty and Robert Yanker - at Upcoming Annual Meeting on Starboard's WHITE Proxy Card
Believes Starboard's Turnaround Plan is "Well-Reasoned and Detailed"
Agrees with Starboard that the Incumbent Board Has Overseen a Prolonged Period of Operating, Financial and Stock Price Underperformance
Highlights Concerns with Board Composition, Stating that "Longer-Tenured Members of the Board with Significant Interconnections From Prior Corporate Relationships Appear to Have Consolidated Power on the Board, Limiting Opportunity For Outside Perspective"
Starboard Urges All Shareholders to Follow the Lead of ISS and Vote for Change Today on the WHITE Proxy Card
PR Newswire
NEW YORK, May 18, 2020
