Dan’s Biz Bookshelf: ‘Costovation: Innovation That Gives Your Customers Exactly What They Want—And Nothing More’
The Right Approach: ‘Twas the Night Before Christmas (Harley-style)
It’s Only Common Sense: Dear Santa, Here’s My Sales Wish List
Universal Electronics Announces Cooperation Agreement with Immersion Corporation
December 22, 2023 | BUSINESS WIREEstimated reading time: 1 minute
Universal Electronics Inc., the global leader in wireless universal control solutions for home entertainment and smart home devices, today announced that it has entered into a cooperation agreement with Immersion Corporation and certain of its affiliates.
Under the terms of the Agreement, the Company’s board of directors (the “Board”) has appointed Eric Singer, President, Chief Executive Officer and Chairman of Immersion, as a new independent director, to serve as a Class II director, filling an existing vacancy on the Board. In addition, the Board appointed Mr. Singer to the Board’s Compensation Committee and will nominate Mr. Singer for election to the Board at the Company’s 2024 annual meeting of stockholders.
Additionally, under the terms of the Agreement, Immersion has the right to identify one additional member for appointment to the Board effective immediately following the Company’s 2025 annual meeting of stockholders, subject to certain conditions, including, among other things, Immersion’s continued ownership of a specified minimum number of shares of the Company’s common stock and the additional director satisfying the Company’s and Nasdaq’s independence standards. During the term of the Agreement, Immersion has agreed to customary standstill provisions and voting commitments.
The Agreement is the latest step that the Company has taken to demonstrate its commitment to maintaining strong corporate governance and enhancing value for all stockholders. Earlier this year, the Board elected William Mulligan as Lead Independent Director of the Board.
“We are pleased to have reached this amicable agreement with Immersion,” said Paul D. Arling, the Company’s Chairman of the Board and Chief Executive Officer. “Eric has significant public company experience as a director and is a welcomed addition to our Board as we work towards a common goal of increasing the Company’s profitability, accelerating its long-term growth and maximizing stockholder value. The Company looks forward to leveraging Eric’s expertise as we continue to position the Company for value creation.”
“Immersion appreciates the engagement we have had with the Board and management team of UEI over the last several months,” said Mr. Singer. “I am excited to join the Board at such a pivotal time. I look forward to working with the Board to help UEI meet its full potential and maximize value for all stockholders.”
Share on:
Suggested Items
Rogers Announces Addition of Woon Keat Moh to Board of Directors
12/23/2024 | Rogers CorporationRogers Corporation announced that Woon Keat Moh ("Moh") has been appointed as an independent member of the Company’s Board of Directors, effective January 1, 2025. Following this change, the Board will be composed of nine members, eight of whom are independent.
CACI Chairman, Michael A. Daniels, Receives Prestigious Lifetime Achievement Recognition from NACD
12/20/2024 | CACI International Inc.CACI International Inc announced that CACI Chairman of the Board of Directors Michael (Mike) A. Daniels was presented with the prestigious 2024 National Association of Corporate Directors (NACD) Directorship 100™ B. Kenneth West Lifetime Achievement Award at its annual gala in New York.
Aspocomp’s Shareholders’ Nomination Board’s proposals to the Annual General Meeting 2025
12/19/2024 | AspocompThe Shareholders’ Nomination Board of Aspocomp Group Plc submits the following proposals to the Annual General Meeting, planned to be held on April 29, 2025. The proposals will also be included in the Notice to the Annual General Meeting 2025 to be published at the later date.
Global PCB Connections: Following DFM Rules Leads to Better Boards
12/18/2024 | Jerome Larez -- Column: Global PCB ConnectionsAs a PCB field applications engineer, ensuring smooth communication between PCB designers and fabricators is one of my frequent challenges. A critical part of that dialogue is design for manufacturing (DFM). Many designers, even experienced ones, often misunderstand or overlook important DFM considerations. They may confuse design rules with manufacturing minimums, leading to technically feasible designs that are difficult or costly to produce. In this column, I will clarify some common DFM guidelines and help designers understand the difference between “design rules” and “minimums” while sharing best practices that will simplify the production process and ensure the highest quality PCB.
Cadence Appoints Moshe Gavrielov to Board of Directors
12/13/2024 | Cadence Design SystemsCadence Design Systems, Inc. announced the appointment of Moshe Gavrielov to its board of directors, effective January 1, 2025. Mr. Gavrielov currently serves as a member of the board of NXP Semiconductors N.V. and Taiwan Semiconductor Manufacturing Company Ltd., as chair of the board of Foretellix and SiMa.ai, and has previously held executive roles at several global technology companies.