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Stock impact report

Activist Starboard Value Nominates Directors at Algonquin [BNN Bloomberg (Canada)]

Xcel Energy Inc. (XEL) 
Last xcel energy inc. earnings: 1/30 06:00 am Check Earnings Report
US:NYSE Investor Relations: investors.xcelenergy.com
Company Research Source: BNN Bloomberg
The activist investor has put forward Brett Carter, former group president of utilities at Xcel Energy Inc., Chris Lopez, the outgoing finance chief of Hydro One Inc. and Rob Schriesheim, lead independent director at investment bank Houlihan Lokey Inc., according to the people. Led by Jeffrey Smith, Starboard has over the past year expressed concerns to Algonquin about succession planning, poor balance sheet management and an ill-fated attempt to buy Kentucky utilities from American Electric Power Co., the people said, asking not to be identified discussing confidential information. Algonquin's shareholder meeting is scheduled for June 4. Representatives for Starboard and Algonquin didn't immediately respond to requests for comment. Starboard holds a roughly 9% stake in Algonquin, according to data compiled by Bloomberg. Shares in Algonquin have fallen almost a quarter over the last 12 months, giving the company a market value of about $5.7 billion. Bloomberg News reported in Show less Read more
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