March 20, 2018 / 12:11 PM / 8 months ago

Starboard says four of its Newell Brands board nominees withdraw

March 20 (Reuters) - Activist investor Starboard Value LP said on Tuesday four executives it planned to elect on to Newell Brands Inc’s board had withdrawn their nominations.

Starboard also said it would reduce its slate of nominees to a minority of the board, if it decides to contest board elections at Newell’s shareholder meeting that is typically held in May.

Newell, the maker of Sharpie pens, struck a deal on Monday with billionaire investor Carl Icahn to appoint four of Icahn’s nominees to its board.

Starboard said Ian Ashken, Domenico De Sole, Martin Franklin, and James Lillie, collectively withdrew their nominations. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar)

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