Olshan Client Engaged Capital Wins Two Board Seats at MagnaChip
May 31, 2016
Reuters and TheStreet reported on an agreement reached by Olshan client Engaged Capital and MagnaChip Semiconductor Corporation. Pursuant to the agreement, Engaged Capital nominees Camillo Martino and Melvin Keating will immediately join MagnaChip as observers of the company's board of directors. Additionally, MagnaChip will nominate Martino for election to board at company's 2016 annual meeting of stockholders, immediately thereafter the board will appoint Keating as a director. Upon becoming board members, both Martino and Keating will serve on the board's strategic review committee. Steve Wolosky represents Engaged Capital in connection with its investment in MagnaChip Semiconductor.