The Urgent Need for Change and The Superior Path Forward slide image

The Urgent Need for Change and The Superior Path Forward

L PRIVET CASE STUDY: BOARD REPRESENTATION AT STARTEK, INC. (SRT) StarTek is a customer engagement, business process outsourcing services provider, delivering customer care solutions to clients from its locations in the United States, Canada, Philippines, Honduras and Jamaica Background Course of Events Following the retirement of the company's founder in 2006, the business languished with multiple CEOs and no clear strategic direction ▪ In March 2011, Privet formed a group with the company's founder and nominated three directors to the Startek board, ultimately reaching a settlement for two director designees ▪ The new board replaced most of the senior leadership team, including the incumbent CEO ▪ The company began improving its operating performance and reputation, ultimately entering into a strategic vendor relationship with Amazon, with Amazon receiving an ownership stake in the company ▪ In March 2018, Startek merged with Aegis in a value-maximizing transaction following a comprehensive review of strategic alternatives PRIVET FUND UPG STRONGER TOGETHER Price/Share $16.00 $14.00 $12.00 $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 Sep 2010 In March 2011, Privet nominated three director candidates to the company's board of directors Jun 2011 Mar 2012 Following the appointment of the Privet nominees, the Board replaced the incumbent CEO, CFO, SVP of sales, head of HR and SVP of operations werten. In March 2018, Startek announced a merger with Aegis following comprehensive review of strategic alternatives a Dec 2012 Sep 2013 Jun 2014 Mar 2015 Nominee Biographies and Appendix Dec 2015 Sep 2016 Jun 2017 Mar 2018 132
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