Engaged Capital Reaches Agreement with Quotient Technology to Reconstitute Board, Improve Corporate Governance and Oust CEO
The Bakersfield Californian, The Deal (subscription required) and other media sources reported on the agreement reached between Olshan client Engaged Capital and Quotient Technology pursuant to which two directors designated by Engaged Capital were appointed to the company’s board of directors and reconstituted four-member Strategic Committee. Quotient also agreed to present a proposal to declassify its board of directors at the upcoming 2022 annual meeting. As part of the agreement, Quotient’s CEO will retire no later than the 2022 annual meeting and after such time will not serve as a director, officer or employee of the company and will not have an advisory role with, or be engaged or retained by, the company without the unanimous approval of the board (unless requested to assist with certain legal proceedings). Steve Wolosky, Ryan Nebel, Ian Engoron and Nikoleta Jaupi represent Engaged Capital in connection with its investment in Quotient Technology.