Algonquin Power (TSE:AQN) has released an update.
Algonquin Power & Utilities Corp. is set to enhance its board by adding Brett Carter and Christopher Lopez while entering a cooperation agreement with significant shareholder Starboard Value LP. The agreement comes as the company prepares for its Annual Meeting and involves Starboard retracting its own director nominations in favor of Algonquin’s choices, alongside discussions on the potential sale of Algonquin’s renewable energy business and CEO search. This strategic board refreshment aims to pivot Algonquin towards becoming a pure play regulated utility, aiming to bolster shareholder value.
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