Harris, JANA Reach Agreement on Appointment of Two Directors
Tuesday, August 02, 2016 | Comments

Harris and JANA Partners announced an agreement for the future appointment of two new mutually agreed upon independent directors to the Harris board of directors. Both individuals will be included in Harris’ slate of directors nominated for election at the company’s 2016 annual meeting. JANA is one of the company’s 10 largest shareholders.

“We have an ongoing dialog with our shareholders and welcome their input,” said Harris Chairman, President and CEO William M. Brown. “At Harris, we have a long history of strong corporate governance and are firmly committed to maximizing long-term value for all of our shareholders. We look forward to the contributions that the two new directors will bring to our board.”

“We believe Harris is a leader in its core businesses and has the potential to unlock significant additional value,” said Barry Rosenstein, managing partner of JANA. “We look forward to continuing to work constructively with the company to add new directors who can help the full board continue to pursue maximum value for all shareholders.”

JANA has agreed to certain standstill, voting and support commitments that are expected to continue until June 2017. The complete agreement between Harris and JANA will be filed on a Form 8-K with the Securities and Exchange Commission (SEC).

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