Reuters: Regulatory News: UPDATE 2-CoreLogic to revamp board to meet shareholder demand

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UPDATE 2-CoreLogic to revamp board to meet shareholder demand Jun 12th 2012, 17:11 June 12 | Tue Jun 12, 2012 9:17am EDT June 12 (Reuters) - Hedge fund Highfields Capital Management said it will withdraw its nominees to CoreLogic Inc's board after the data and analytics company nominated three independent directors and its chairman agreed to step down by the end of the year. Highfields nominated three people as possible directors on CoreLogic's board last month to push for management changes after the Santa Ana-based company abandoned plans for a strategic review. The Boston-based fund had also criticized the company's proposed corporate governance changes as inadequate, calling plans to expand its board a "minor cosmetic" adjustment. CoreLogic said on Tuesday that it would nominate Douglas Curling, a managing director at Kent Capital LLC, John Dorman, the board chairman at Online Resources Corp, and Jaynie Studenmund, a director at Pinnacle Entertainment, to its board. D. Van Skilling, CoreLogic's chairman, will step down by the end of 2013 and retire from the board at the company's 2014 annual meeting, the company added. "We applaud the CoreLogic Board for conducting a comprehensive search and accepting shareholder input to find candidates with relevant business experience," Highfields Chief Executive Jonathon Jacobson said. Shares of the company closed at $17.05 on Monday on the New York Stock Exchange. Link this Share this Digg this Email Reprints

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