Cognyte issues letter to shareholders on recent board actions

Cognyte Software publicized a letter to shareholders highlighting the actions the Board and leadership team have taken to strengthen and reposition the business. In the letter, the Board of Directors also reaffirmed the Company’s commitment to enhance its disclosures of key performance indicators and to identify a new independent director with relevant experience in the United States. “This year’s Annual Meeting of Shareholders of Cognyte Software Ltd. is fast approaching. The meeting will be held on September 4, 2024. To help ensure Cognyte’s momentum and progress continues, the Board of Directors urges shareholders to vote “FOR” Earl Shanks and Elad Sharon, and “FOR” the proposal to approve the amendments to Cognyte’s CEO’s compensation plan. Both Mr. Shanks, who was appointed independent Chairman of the Board in 2023, and Mr. Sharon, Cognyte’s CEO, are key leaders who have been instrumental in driving Cognyte’s business repositioning and improved execution. These efforts have helped Cognyte return to growth, delivering sustained and expanding profitability. Investors are recognizing our improvement, and over the last 12 months, we have delivered a total shareholder return of 55%, significantly outperforming our peers and the broader market. We also recently raised guidance for fiscal year 2025, reflecting increased confidence in our business prospects. “