TMCnet News
Nuance Board Announces Significant Changes to its Board of Directors and Corporate Governance- Three Long-Serving Directors to Retire BURLINGTON, Mass., June 26, 2018 (GLOBE NEWSWIRE) -- Nuance Communications, Inc. (NASDAQ:NUAN) today announced that its Board of Directors has unanimously approved significant changes to its Board composition, leadership and related governance practices, and that the Company is committed to additional changes. Beginning with the appointment of Mark Benjamin as chief executive officer in April 2018, the Nuance Board of Directors has embarked on a series of changes to advance the business and address matters raised by shareholders in recent years. Today, the Nuance Board announced the retirement of three long-serving directors, effective June 30, 2018. The Board has also reorganized its committee leadership by naming two new committee chairs and has adopted majority voting as the standard for uncontested director elections. In addition, the Board announced it intends to provide shareholders the right to call special meetings after the Company solicits additional feedback from shareholders on the appropriate ownership and other requirements for shareholders to exercise this right. “The entire Board has been engaged in developing and adopting the changes we are announcing today,” said Mark Benjamin, chief executive officer of Nuance. “I thank them, and in particular the directors who will be retiring from the Board, for their strong, unconditional support as I have stepped into my role at Nuance and, importantly, for their service to Nuance as it led the way in pioneering conversational AI for global industries.” Continued Shareholder Engagement Changes to Board Composition and Committee Leadership Additionally, the Board has appointed Sanjay Vaswani to chair the Compensation Committee and Mark Laret to chair the Nominating & Governance Committee, effective immediately. Mr. Vaswani joined the Board in February 2018. Robert Finocchio will remain in his role as chair of the Audit Committee. Established Majority Voting Standard for Director Elections Commitment to Adopt Special Meeting Right “In response to feedback from our shareholders and our commitment to strong governance, we are taking steps to improve our practices,” said Mark Laret, Nuance director and chair of the Nominating & Governance Committee. “We appreciate the input we have received and will continue this engagement regarding Board composition and corporate governance as we build a stronger Nuance.” About Nuance Communications Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners. Nuance Contact Information Media & Investors |