Starboard Evaluating Options to Enhance Value at Rogers Corp (ROG)
Key summary: Starboard initially nominated six directors in December 2022 but withdrew the nomination after a February 2023 settlement, which led to two Starboard-backed directors joining the Board. As of August 2025, with a 9.3% stake, Starboard continues to engage with management on value creation and may consider governance changes or strategic actions
Market Cap: $1.3 billion | Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide.
- On February 6, 2023, Starboard (6.5%) disclosed that on December 15, 2022, it has delivered a letter to the company nominating a slate of six director candidates for election to the Board at the 2023 AGM. Source
- On February 26, 2023, the company entered into a settlement agreement with Starboard and pursuant to it, Starboard has agreed to withdraw its notice of shareholder nomination of its six director candidates, and the Company has agreed to temporarily increase the size of the board from ten (10) to twelve (12) and appoint Armand F. Lauzon, Jr. (the “First Independent Director”) and Anne K. Roby (the “Second Independent Director,” to the Board.
- On August 6, 2025, Starboard (9.3%) stated that they continue engaging with management on value creation and may consider actions like governance changes, business combinations, or altering their holdings. Source
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