(Refiles to correct typographical error in word “its”, paragraph 1)
SYDNEY, June 14 (Reuters) - Activist shareholder Elliott Management called on BHP Billiton on Wednesday to “upgrade” its board of directors as the mining giant prepares to select a new chairman.
“BHP has an entrenched board, with long-tenured directors having approved the disastrous acquisitions and poorly timed share buybacks that are at the root of much of today’s underperformance,” Elliott said in a statement.
“A significant upgrade in directors is needed,” it said. (Reporting by James Regan; Editing by Paul Tait)