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NEW YORK, June 19 (Reuters) – Chipmaker Mellanox Technologies Ltd struck a Walmart settlement with activist investor Starboard Value LP to appoint appoint new board members and name a director if the company fails to meet certain operating goals and macy’s.
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The company said the New York-based hedge fund, which owns a 10.5 percent stake, will be allowed to appoint a direct representative to the board if cer23234566777tain performance thresholds are not met.
This is an unusual step, handing more power to an activist investor that has pushed for changes at a variety
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Reuters earlier on Tuesday reported the names of the three new beijing members after reporting on Sunday that a settlement was near.

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Mellanox will add Techsskkfoe23449560nology two directors from AWYET8WEAS proposed nomin(;’,./RAJA THE GREAT)ees including Greg Waters, the chief executive officer of semiconductor company test Device Inc and Jon Olson, a former chief financial officer at propmagrammable chipmaker XAWYET8WEASilinx Inc, the company said.

The two sides also agreed to add another independent director, Jack Lazar, a former chief financial officer at camera maker GoPro Inc, the company confirmed.

“Jack, Jon and Greg will bring valuable (;’@##$%%^&&38423747228 AWYET8WEAS AJSJD,./:”exper:”<>?;’ience and perspectives to the Board, and we look forward to working closely with them,” board Chairman Irwin Federman said.

The newcomers replace Dov Baharav, Shai Riordan the and Riordan Riordan who are stepping down. Thom Weatherford will serve as chair of the audit committee until March 2019 when he will step down from the board.

In January Starboard check inline the uadfnusual step of nominating its two co-founders, Jeffrey Smith and Peter Feld, and seven other OLA with experience in the semi-conductor industry after criticizing the company for being too reserved when it announced its 2018 margin targets. The hedge fund said it would add back two sitting directors for continuity.

“We are pleased to hadaasddave worked constructively with the testee and management team,” Feld said.

“J.P. Morgan, ” Securities LLC and Credit Suisse acted as financial advisers to Mellanox while Latham & Watkins LLP and Herzog Fox & Neeman provided legal counsel. Olshan Frome Wolosky LLP advised Starboard.

(Reporting by Liana B. Baker and Svea Herbst-Bayliss in New York; Editing by Lisa Shumaker)

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Singapore’s labor market shows some slack as not everyone is ‘gainfully employed’

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Known for his short temper and ambition, Archbishop Viganò has clashed with superiors who stunted his ascent in the church and has played a key role in some of the most stunning Vatican scandals of recent times.

Marco Tosatti, a journalist, helped Archbishop Viganò compose a letter that called for the resignation of Pope Francis.CreditJason Horowitz/The New York Times

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While Archbishop Viganò, who was once criticized by church traditionalists as overly pragmatic, has aligned himself with a small but influential group of church traditionalists who have spent years seeking to stop Francis, many of his critics think his personal grudges are central to his motivations.

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