Fortrea Holdings Inc. announced on February 21, 2025, the appointment of Erin L. Russell, a seasoned financial and healthcare executive, as a new independent member of its Board of Directors. This appointment is effective immediately prior to the next regularly scheduled Board meeting.
Ms. Russell's addition to the Board is a direct result of a cooperation agreement between Fortrea and Starboard Value LP, an investment firm that holds approximately 5.4% of the company’s outstanding common stock. This collaboration underscores a mutual interest in driving financial improvements and maximizing shareholder value.
Bringing extensive experience from executive and board roles in finance and healthcare, Ms. Russell's expertise is expected to contribute significantly to Fortrea's strategic direction. Starboard Value LP has agreed to customary standstill and voting provisions as part of this agreement.
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