– USA, MA – GCP Applied Technologies Inc. (NYSE: GCP), a leading global provider of construction products technologies, today announced that GCP shareholders have elected all eight Starboard-nominated directors to its Board of Directors including Kevin Brown, Peter Feld, Janet Giesselman, Clay Kiefaber, Marran Ogilvie, Andrew Ross, Linda Welty and Rob Yanker.
GCP nominees Randall Dearth and Armand Lauzon were also elected by shareholders.
Randy Dearth, GCP’s President and CEO said, “I am incredibly proud of our employees for their commitment to, and focus on, operating safely and serving our customers and for their unwavering support during this year’s annual meeting process. It is thanks to their efforts over the last year that GCP is positioned for success and value creation, with significant recent performance improvement and positive business momentum entering the COVID-19 crisis. On behalf of GCP, I would also like to thank our shareholders for the thoughtful and constructive feedback we received throughout this process.”
Mr. Dearth continued, “Importantly, the primary objectives of the new GCP Board and our current management team remain the same: to best serve our customers, support our employees and deliver value to shareholders. I, together with the entire management team, look forward to working collaboratively with the new Board to build on our momentum, execute our strategic operating plan, and drive GCP’s continued progress. We also thank Gerald Colella, Janice Henry, James Kirsch, Phillip Mason, Elizabeth Mora and Danny Shepherd for their service on GCP’s Board and their contributions to the Company.”
Speaking on behalf of GCP’s newly elected Board, Peter A. Feld, Managing Member of Starboard, said, “GCP is a great company with a bright future. The new Board members are prepared and excited to immediately begin working alongside GCP’s management team to put GCP on track for long-term value creation for all shareholders. My fellow Board members and I share a common goal for GCP – to enhance value for all of GCP’s stakeholders, including its employees, customers, partners and shareholders. The new Board wishes the departing directors well, and we thank them and their advisors for ensuring a smooth and seamless transition process that will allow us to immediately focus on the priorities at hand.”
Mr. Feld concluded, “GCP has a tremendous opportunity to capitalize on its market-leading products across its SBM and SCC business segments. The new Board is incredibly excited to work with GCP’s dedicated and talented employee base to continue driving improved results and profitable growth. We all share a passion for this great company and look forward to working hard in the boardroom with management on a shared goal of excellence for GCP.”
About GCP Applied Technologies
GCP is a leading global provider of construction products technologies that include additives for cement and concrete, the VERIFI in-transit concrete management system, high-performance waterproofing products, and specialty systems. GCP products have been used to build some of the world’s most renowned structures.
For more information: https://gcpat.com/en
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