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Calgon Carbon to expand board in agreement with hedge fund

10:05 AM MDT | March 12, 2013 | Vincent Valk

Calgon Carbon has agreed to nominate two new independent directors, potentially expanding the size of its board by one seat, in an agreement with hedge fund Starboard Value (New York). The fund, which owns 9.2% of Calgon Carbon shares, nominated 3 directors to the company’s board in January.   The two new nominees, who will stand for election at Calgon Carbon’s next annual meeting, are former Arch Chemicals COO Louis Massimo and Marathon Petroleum CFO Donald Templin. Massimo was one of the three nominees originally proposed by Starboard Value...

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