PHILADELPHIA, PA — Enviri Corporation (NYSE: NVRI) has unveiled plans to appoint two independent directors to its Board as part of its ongoing Board refreshment plan and a newly established cooperation agreement with Neuberger Berman Investment Advisers. This initiative reflects Enviri’s steadfast focus on corporate governance and long-term shareholder value creation.
The agreement stipulates that the first independent director will be appointed during the company’s 2025 Annual Meeting of Stockholders, with the second joining within the following eight months. Simultaneously, one existing director will step down in 2025, followed by another in 2026, ensuring a planned transition aligned with the company’s governance principles. These changes come as Enviri continues to enhance its Board, which has already welcomed three new members over the past four years.
“Excellence in corporate governance, ongoing board refreshment and active engagement with stockholders are fundamental to Enviri, and we are pleased to continue building on these principles with today’s announcement,” stated Nick Grasberger, Enviri’s Chairman and CEO. “We look forward to welcoming exemplary members to our Board this year and in the future. Our directors are focused squarely on the execution of Enviri’s strategic priorities to drive meaningful growth and deliver sustainable value, and we will continue to engage with Neuberger Berman and our stockholders as we progress on these initiatives.”
Neuberger Berman, a long-term shareholder, expressed its support for the changes. “We have been long-term shareholders in Enviri and strongly believe in the Company and its share price potential,” said Benjamin Nahum, Senior Portfolio Manager and Managing Director at Neuberger Berman. “Enviri is at an inflection point as the Company executes its transformation, and we believe that there is significant value to be unlocked. We are committed to working with management to achieve the Company’s full potential. In this spirit, we look forward to collaborating with the Board to identify candidates whose expertise can address the Company’s operating priorities while promoting long-term shareholder value. With the support of fresh voices on its Board, we are confident in Enviri and its management team’s ability to position the Company to drive increased value for stockholders. We also appreciate the ongoing, constructive dialogue we have had with Enviri over the years.”
This latest development underscores Enviri’s commitment to fostering robust leadership and bolstering its strategic focus. The cooperation agreement, aimed at furthering the company’s transformation and growth trajectory, will be filed on Form 8-K with the U.S. Securities and Exchange Commission.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.