Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Jamba Inc. (JMBA) Agrees To Appoint Engaged Capital’s Glenn W. Welling To Board

Jamba Inc. (NASDAQ:JMBA) has agreed to appoint Glenn W. Welling of Engaged Capital to the company’s board of directors. According to a new filing with the U.S. Securities and Exchange Commission, Jamba Inc. (NASDAQ:JMBA) entered into a settlement agreement to appoint Mr. Welling and James C. Pappas, managing member of JCP Investment Management, to the company’s board, effectively immediately. Engaged Capital holds 1.43 million shares of Jamba Inc. (NASDAQ:JMBA), representing 8.2% of the company’s common stock, the filing showed.

Jamba, Inc. (NASDAQ:JMBA)

Under a settlement agreement with Engaged Capital and certain of its affiliates, Jamba Inc. (NASDAQ:JMBA) agreed to appoint Mr. Welling and Mr. Pappas to its board, with terms expiring at the company’s 2015 annual meeting of stockholders. At the same time, Jamba Inc. (NASDAQ:JMBA) agreed to appoint Mr. Welling as a member of the compensation and executive development committee of the board, and Mr. Pappas as a member of both the nominating and corporate governance committee and the audit committee of the board.

Further, Jamba Inc. (NASDAQ:JMBA) agreed to take all necessary actions to nominate each of Mr. Pappas and Mr. Welling for election as an incumbent director at the 2015 annual meeting.

On the other hand, Engaged Capital and JCP Investment Management have agreed to vote their shares in favor of the election of the company’s slate of directors at the 2015 annual meeting. Additionally, JCP Investment Management will, among other things, withdraw its nomination of candidates to stand for election at the company’s 2015 annual meeting. JCP Investment Management and certain of its affiliates own about 2.3% of Jamba Inc. (NASDAQ:JMBA)’s outstanding shares, according to a news release.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.