Alight confirms receipt of director nominations from Starboard Value

Alight issued the following statement regarding Starboard Value’s nomination of directors for election to the Alight Board of Directors at the company’s 2024 Annual Meeting of Stockholders: “The Board and the company’s management maintain an active dialogue with all types of investors and value their input and perspectives. While we have not had any engagement with Starboard to date, we welcome discussions on our strategy and creating shareholder value. The Board and its Nominating and Corporate Governance Committee will evaluate Starboard’s nominees in the same manner as any other nominee and at the appropriate time will make a recommendation that best serves the interests of all of the company’s stockholders. The company will announce details regarding the Annual Meeting in due course. Stockholders are not required to take any action at this time. Alight’s Board maintains a commitment to identifying directors with the background and experience to enhance the Board’s ability to drive stockholder value, as demonstrated by the addition of three new independent directors since going public in 2021. Alight’s highly qualified Board has the skills, leadership qualifications and independence needed to guide Alight as it executes its strategic initiatives. Alight is successfully executing a strategy that is pivoting the company to a higher-growth, higher-margin operating model, which we expect to drive medium- and long-term value creation. We are starting 2024 with record revenue under contract, strong commercial momentum, and meaningful margin expansion potential. At the same time, we are conducting a strategic portfolio review to advance our platform and wellbeing strategy and identify opportunities to accelerate the achievement of our mid-term financial and strategic objectives.”