Property information and analytics provider CoreLogic has confirmed the addition of three new directors, following pressure from investors Senator and Cannae to replace the majority of its board.
Back in July, the two investors initiated a process to call a Special Meeting of shareholders with the aim of removing and replacing a majority of the board members of CoreLogic, after the board previously rejected an offer from the pair to acquire all of the company’s outstanding common shares.
But at the Special Meeting last week, shareholders only voted to replace three of CoreLogic’s directors.
Going forward, W. Steve Albrecht, Wendy Lane, and Henry W. “Jay” Winship will join the 12-member board of directors.
Albrecht is currently the Gunnel Endowed Professor in the Marriott School of Management at Brigham Young University, where he was previously Associate Dean.
He currently serves as on the Board and as Chair of the Audit & Finance Committee of SkyWest, Inc. Previously he was Chairman of Cypress Semiconductor Corporation when it was acquired by Infineon Technologies AG for $10 billion and Director and Chair of the Audit Committee of RedHat, Inc. when it was acquired by IBM for $35 billion.
Lane, meanwhile, has served as Chairman and Founder of Lane Holdings, Inc., an investment firm, since 1992. Previously, she was a Principal and Managing Director of Donaldson, Lufkin and Jenrette Securities.
Additionally, Lane has served on the Board and as Chairman of the Compensation Committee of Willis Tower Watson since 2016, including during its entry into a definitive agreement to combine with Aon plc. Her prior board experience includes, among others, MSCI, Inc., Laboratory Corporation of America (LabCorp), where she chaired the Audit and Compensation Committees, and UPM Kymmene Corporation.
And finally, Winship is the President and Founder of Pacific Point Capital, a real estate investment firm. Prior to founding Pacific Point Capital,
He was also a Principal, Senior Managing Director, and Investment Committee Member of Relational Investors LLC, a $6 billion investment fund. He is a Certified Public Accountant and Chartered Financial Analyst. Winship currently serves on the Board and as Chair of the Audit Committee of Bunge Limited. He was previously on the Board of Esterline Technologies Corporation.
“We warmly welcome Steve, Wendy and Jay to the Board,” said CoreLogic Chairman Paul Folino. “We look forward to working together to maximize value for CoreLogic shareholders, and conduct our strategic review process.”
