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BRIEF-Cognizant reaches cooperation agreement with Elliott Management
February 8, 2017 / 11:14 AM / in 6 months

BRIEF-Cognizant reaches cooperation agreement with Elliott Management

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Feb 8 (Reuters) - Cognizant Technology Solutions Corp

* Cognizant reaches cooperation agreement with Elliott Management

* Has entered into a cooperation agreement with Elliott Management

* Three existing members of board will concurrently not stand for reelection

* Three existing members of board will concurrently not stand for reelection

* Board has agreed to continue ongoing process of refreshing board by appointing three new independent directors

* Elliott has also agreed to certain customary standstill provisions, as well as to support integrated plan

* Board will also form a financial policy committee

* Financial policy committee will be comprised of three directors, including D'Souza, incumbent director and one of new directors

* Says financial policy committee will assist, advise board on issues relating to operating plan, capital allocation policy

* Financial policy committee will be comprised of three directors, including Francisco D'Souza, an incumbent director Source text for Eikon: Further company coverage:

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