Starboard nominates candidates to Newell's board

  • Activist investor Starboard Value said on Monday it nominated a full slate of director candidates for election to Newell Brands' board.
  • It also expressed concerns about the Sharpie pen maker's underperformance.

Activist investor Starboard Value said on Monday it nominated a full slate of director candidates for election to Newell Brands' board and expressed concerns about the Sharpie pen maker's underperformance.

Newell's shares were up nearly 2 percent in premarket trading.

The activist investor, which owns about 4 percent of company, said the director nominations include former Jarden executives Ian Ashken, Martin Franklin and James Lillie.

Last week, Newell said activist investors Starboard Value and Opportunity Master Fund wanted to nominate ten directors to its board, seeking to replace the company's current slate.