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Starboard Recommends Three New Directors to AECOM Board; Michael Burke Quoted

Jeff Brody
Michael Burke

Starboard Value, a New York-based investment adviser and a shareholder of AECOM (NYSE: ACM), has recommended three independent directors for appointment to AECOM’s board under a governance agreement.

AECOM said Friday Peter Feld, a managing member of Starboard, and Robert Card, president of executive advisory services firm The Card Group, will immediately join its board, while Jacqueline Hinman, former chairman, president and CEO of CH2M Hill, will assume duties as a board member on Dec. 16.

Feld is also head of research at Starboard and a director of NortonLifeLock (Nasdaq: NLOK) and Magellan Health (Nasdaq: MGLN). He previously served as a director at Marvell Technology Group (Nasdaq: MRVL), Insperity (NYSE: NSP), The Brink’s Company (NYSE: BCO) and Darden Restaurants (NYSE: DRI).

Card serves as a director of Westinghouse Electric and a member of Longenecker & Associates’ executive advisory board. He previously served as president, CEO and board member of SNC-Lavalin Group, president of energy water and facilities divisions at CH2M and a director at Amec Foster Wheeler. He is former undersecretary of energy between 2001 and 2004.

Hinman serves as a director of Dow Chemical and The International Paper (NYSE: IP). She previously served as a director at CH2M, founder and CEO of Talisman Partners and senior vice president of global facilities and infrastructure at Tyco International.

Steven Kandarian, a current board member, will serve as the lead independent director. Linda Griego and James Fordyce retired from the board.

Michael Burke, chairman and CEO of AECOM, announced his plans to retire and will continue to serve in his dual-role until the company finds a successor. The CEO and chairman positions will be split upon the appointment of a new chief executive.

“The company is in a position of strength as we begin this leadership transition. I look forward to assisting in a robust succession process to identify AECOM’s next leader – someone who will build upon a solid platform for new growth and continue to ensure that our global clients and dedicated employees remain well served,” Burke said.

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