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The latest announcement is out from Allegro MicroSystems (ALGM).
Allegro MicroSystems experienced a significant board reshuffle after OEP’s stake dropped below 5%, prompting six directors to resign as per the Stockholders Agreement. These resignations were not due to any internal disputes. Subsequently, the Board, following the Nominating and Corporate Governance Committee’s advice, reappointed all six members to various classes and committees, ensuring that the directors who serve on the Audit Committee remain independent and are recognized as financial experts. Their indemnification agreements and unvested stock units remain unaffected, with vesting set for the next stockholders’ meeting.
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