Algonquin Power & Utilities ( (TSE:AQN) ) has issued an announcement.
Algonquin Power & Utilities Corp. has announced the extension of its cooperation agreement with Starboard and the appointment of new CEO Rod West to its Board of Directors. Additionally, Starboard’s Senior Partner Gavin Molinelli is set to join the Board, pending regulatory approval. These changes aim to enhance the company’s strategic focus on becoming a pure-play regulated utility, improving operational efficiency, and unlocking shareholder value. The cooperation agreement with Starboard, which holds a significant stake in Algonquin, reflects a collaborative approach to driving financial and operational improvements, with the potential for meaningful earnings growth.
More about Algonquin Power & Utilities
Algonquin Power & Utilities Corp. operates in the utilities industry, focusing on providing regulated utility services. The company is transitioning to become a pure-play regulated utility, emphasizing operational efficiency and value creation for stakeholders.
YTD Price Performance: 6.39%
Average Trading Volume: 9,451,313
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.62B
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