Emcore enters cooperation pact with Radoff, chairman Stephen Domenik steps down

Emcore announced that it has entered into a cooperation agreement with Bradley Radoff and certain of his affiliates, pursuant to which Cletus Glasener and Jeffrey Roncka were appointed to the company’s board of directors effective immediately. The company also announced that chairman Stephen Domenik has stepped down from the board and the size of the board was increased to six effective immediately to facilitate the appointment of the new board members. Pursuant to the cooperation agreement, Glasener was appointed as chairman of the board. Pursuant to the cooperation agreement, Emcore has also agreed to amend and restate the charter for the Strategy and Alternatives Committee of the Board to include the oversight and completion of a business review of the company’s operational performance, cost structure, and portfolio composition, as well as to explore all value creation levers available to the company. The composition of the Strategy and Alternatives Committee will be reconstituted to consist of the independent directors of the board and Roncka will serve as the chair.