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Fortrea Holdings Inc. ( (FTRE) ) has shared an announcement.
On February 21, 2025, Fortrea Holdings Inc. entered a cooperation agreement with Starboard Value LP, leading to the appointment of Erin L. Russell as an independent director on Fortrea’s board. This move, alongside the resignation of board member Andrew Eckert, reflects Fortrea’s strategic efforts to enhance governance and drive shareholder value. The agreement grants Starboard the right to appoint another board member, contingent on maintaining a specified ownership threshold, and includes standstill and voting commitments. The collaboration is seen as beneficial for Fortrea and its stakeholders, aiming to leverage Ms. Russell’s expertise for financial and operational improvements.
More about Fortrea Holdings Inc.
Fortrea Holdings Inc. is a global contract research organization specializing in clinical development solutions for the life sciences industry. It collaborates with various biopharmaceutical, biotechnology, medical device, and diagnostic companies to advance healthcare innovation, offering services such as phase I-IV clinical trial management and consulting.
YTD Price Performance: -16.30%
Average Trading Volume: 1,112,048
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.4B
Learn more about FTRE stock on TipRanks’ Stock Analysis page.
