April 23, 2018 / 12:17 PM / 10 months ago

Newell Brands ends proxy fight with Starboard

April 23 (Reuters) - Sharpie pen maker Newell Brands Inc said on Monday it agreed to add three independent directors to its board, ending a months-long proxy fight with activist investor Starboard Value LP.

The company said it appointed two new independent directors, Gerardo Lopez and Robert Steele, effective immediately.

Newell said it also intends to nominate Bridget Ryan Berman from Starboard’s slate, who has been mutually-agreed upon by the fund and shareholder Carl Icahn for election to the board at its 2018 annual meeting.

Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila

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