HPE (HPE) announced the formation of a new strategy committee of the board and the appointment of Robert Calderoni, current chairman of KLA Corp. (KLAC), as a director effective July 16. These enhancements were made as part of the board’s continued efforts to drive shareholder value, and in connection with a cooperation agreement with Elliott Investment Management. In addition to Calderoni’s appointment and the formation of the new strategy committee, HPE’s cooperation agreement with Elliott includes an information-sharing agreement that will allow for an ongoing dialogue between Elliott and HPE, as well as the customary standstill, voting, and other provisions. The agreement also gives Elliott the ability to appoint an Elliott representative to the board at any point up until the expiration of the standstill.
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