Rogers Corp. ROG said Monday it has reached an agreement with activist shareholder Starboard Value LP and will add two independent directors to its board. Starboard owns about 6.5% of Rogers’ stock. The company, which makes engineered materials for use in mobile devices, EV and automotive safety and radar systems and more, said Anne K. Roby, former Executive Vice President at Linde plc LIN, and Armand F. Lauzon, Jr., former President and Chief Executive Officer at C&D Technologies, Inc., will join the Rogers board. Upon completion of this year’s annual shareholder meeting, the board will be composed of nine members, eight of whom are independent. The stock has fallen 45% in the last 12 months, while the S&P 500 SPX has fallen 9%.
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