Cognyte sends letter to shareholders highlighting operational performance

Cognyte Software issued a letter to its shareholders regarding its 2024 Annual Meeting of Shareholders to be held on September 4, The Cognyte Board of Directors encourages shareholders to reject Value Base Fund’s director nominee and to vote “FOR” the re-election of Earl Shanks, Cognyte’s independent Chairman of the Board, “FOR” Elad Sharon, the Company’s Chief Executive Officer and “FOR” the CEO compensation plan. In the letter to shareholders, Cognyte’s Board highlights the Company’s recent operational advancements, improved financial performance, refreshed Board composition and commitment to ongoing enhancement of corporate governance and financial disclosure…We have engaged in extensive dialogue with our shareholders on topics ranging from business strategy, corporate governance, executive compensation, communications and disclosures, and other important topics. Based on the feedback we received during these discussions, the Board has refined and advanced the Company’s strategy, refreshed its own composition and leadership, and improved transparency and disclosures. For example, the Board: Established a Strategy Committee to work closely with management to identify and evaluate opportunities to accelerate Cognyte’s growth; Appointed Earl Shanks, an accomplished former CFO of three multi-billion-dollar U.S. public companies with global operations, as independent Chairman; Added three new independent directors – Avi Cohen, Sarit Sagiv and Ron Shvili – all of whom possess highly relevant experience and valuable skills, with subject matter expertise in capital markets, financial reporting, governance and the security analytics market…