Pursuits
Rovi Activist Engaged Wins Two Board Seats, Ousts Chairman
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Activist investor Glenn Welling’s Engaged Capital LLC won two of three board seats it sought at Rovi Corp., ousting Chairman Andrew Ludwick in a proxy fight at the company, which licenses data for television guides.
Shareholders backed Engaged Capital’s candidates, Welling and Raghavendra Rau, who will join the seven-member board, Rovi said Wednesday in a statement, citing preliminary voting results from the annual meeting in Santa Clara, California. Chief Executive Officer Thomas Carson will be interim chairman.