Starboard’s Gavin Molinelli To Be Appointed on Wausau Paper Corp. (WPP)’s Board

Last week, Jeffrey Smith’s Starboard Value LP and Wausau Paper Corp. (NYSE:WPP), a $513 million market cap company that manufactures, converts, and sells paper and paper products, entered a new agreement regarding the composition of the company’s Board of Directors.  According to a press release, Wausau agreed to appoint Gavin Molinelli, a Partner at Starboard, to the company’s Board of Directors.  As previously reported, Mr. Molinelli has been serving as an observer to the Board since April 22, 2014.

Wausau Paper Corp.(NYSE:WPP)

“Mr. Molinelli will be included on the Company’s slate of Board nominees in the Company’s 2014 proxy statement and submitted for stockholder approval at the Company’s 2014 Annual Meeting,” Wausau Paper Corp. (NYSE:WPP) said. Starboard, which beneficially owns approximately 15.1% of the company’s outstanding shares of common stock, has agreed to vote all of its shares (about 7.5 million) in favor of each of the Board’s nominees at the 2014 Annual Meeting.

Disclosure: Javier Hasse holds no position in any stocks mentioned.

Biotech Insider Alert - $5 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!