UPDATE 1-Starboard's Feld quits AECOM's board over CEO pick [Reuters (UK)]
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Source: Reuters
Starboard's Feld quits AECOM's board over CEO pick - Reuters 4 Min Read (Reuters) - Hedge fund Starboard Value LP managing member Peter Feld stepped down from AECOM’s ( ACM.N ) board in protest over the selection of a new chief executive that sidestepped a search process overseen by him, the U.S. engineering company disclosed on Monday. Feld quit after the board held a meeting without a previously disclosed agenda to vote on the promotion of Chief Financial Officer Troy Rudd to CEO, according to Feld’s June 12 resignation letter that the company published on Monday. Members of a CEO search committee of AECOM’s board were engaging with “highly qualified candidates” and could have concluded their search within weeks, when the company’s board decided to pick Rudd to succeed CEO Michael Burke in October, the letter stated. “Since I cannot, and will not, support the board practices that culminated in this selection, I am resigning from the board with immediate effect,” Feld, who chaired
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