AOL Re-elects Its Board Despite Shareholder Protest
Move is a victory of sorts for CEO Tim Armstrong
AOL has won a victory in its public battle with one of the company's major investors, Starboard Value. The Web portal announced this morning that it reelected all of its incumbent board directors.
In recent months, Starboard was clamoring for a board shakeup, even suggesting its own potential nominees. But at AOL’s annual shareholders meeting today, CEO Tim Armstrong was able to maintain the board as he saw fit.
AOL did announce that it would pursue the addition of two new independent directors to its board.
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