Alight Confirms Receipt of Director Nominations from Starboard Value
February 22 2024 - 6:00AM
Business Wire
Stockholders are not required to take any
action at this time
Alight, Inc. (NYSE: ALIT) (“Alight” or the “Company”), a leading
cloud-based human capital and technology services provider, today
issued the following statement regarding Starboard Value’s
(“Starboard”) nomination of directors for election to the Alight
Board of Directors (the “Board”) at the Company’s 2024 Annual
Meeting of Stockholders (the “Annual Meeting”):
The Board and the Company’s management maintain an active
dialogue with all types of investors and value their input and
perspectives. While we have not had any engagement with Starboard
to date, we welcome discussions on our strategy and creating
shareholder value. The Board and its Nominating and Corporate
Governance Committee will evaluate Starboard’s nominees in the same
manner as any other nominee and at the appropriate time will make a
recommendation that best serves the interests of all of the
Company’s stockholders. The Company will announce details regarding
the Annual Meeting in due course. Stockholders are not required to
take any action at this time.
Alight's Board maintains a commitment to identifying directors
with the background and experience to enhance the Board’s ability
to drive stockholder value, as demonstrated by the addition of
three new independent directors since going public in 2021.
Alight’s highly qualified Board has the skills, leadership
qualifications and independence needed to guide Alight as it
executes its strategic initiatives.
Alight is successfully executing a strategy that is pivoting the
Company to a higher-growth, higher-margin operating model, which we
expect to drive medium- and long-term value creation. We are
starting 2024 with record revenue under contract, strong commercial
momentum, and meaningful margin expansion potential. At the same
time, we are conducting a strategic portfolio review to advance our
platform and wellbeing strategy and identify opportunities to
accelerate the achievement of our mid-term financial and strategic
objectives.
About Alight Solutions
Alight is a leading cloud-based human capital technology and
services provider that powers confident health, wealth and
wellbeing decisions for 36 million people and dependents. Our
Alight Worklife® platform combines data and analytics with a
simple, seamless user experience. Supported by our global delivery
capabilities, Alight Worklife is transforming the employee
experience for people around the world. With personalized,
data-driven health, wealth, pay and wellbeing insights, Alight
brings people the security of better outcomes and peace of mind
throughout life’s big moments and most important decisions. Learn
how Alight unlocks growth for organizations of all sizes at
alight.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements include, but are not limited to,
statements related to the expectations regarding the performance
and outlook for Alight’s business, financial results, liquidity and
capital resources, our ability to achieve our operational and
financial targets, our strategic portfolio review, our expected
revenue under contract and other non-historical statements. In some
cases, these forward-looking statements can be identified by the
use of words such as “outlook,” “believes,” “expects,” “potential,”
“continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,”
“predicts,” “intends,” “plans,” “estimates,” “anticipates” or the
negative version of these words or other comparable words. Such
forward-looking statements are subject to various risks and
uncertainties including, among others, risks related to declines in
economic activity in the industries, markets, and regions our
clients serve, including as a result of elevated interest rates or
changes in monetary and fiscal policies, competition in our
industry, risks related to the performance of our information
technology systems and networks, risks related to our ability to
maintain the security and privacy of confidential and proprietary
information, and risks related to changes in regulation, including
developments on the use of artificial intelligence and machine
learning. Additional factors that could cause Alight’s results to
differ materially from those described in the forward-looking
statements can be found under the section entitled “Risk Factors”
of Alight’s Annual Report on Form 10-K, filed with the Securities
and Exchange Commission (the "SEC") on March 1, 2023, as such
factors may be updated from time to time in Alight's filings with
the SEC, which are, or will be, accessible on the SEC's website at
www.sec.gov. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. These factors should not
be construed as exhaustive and should be considered along with
other factors noted in this presentation and in Alight’s filings
with the SEC. Alight undertakes no obligation to publicly update or
review any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as required
by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240222565959/en/
Investors: Jeremy Cohen investor.relations@alight.com
Media: Mariana Fischbach Mariana.Fischbach@Alight.com Lex
Suvanto, Edelman Smithfield alight@edelmansmithfield.com
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