February 7, 2017 / 1:26 PM / 6 months ago

BRIEF-Perrigo announces agreement with Starboard

Feb 7 (Reuters) - Perrigo Company Plc

* Perrigo announces agreement with starboard

* Company to reconstitute board with five new independent directors

* New directors include Bradley Alford, Jeffrey Kindler, Jeffrey Smith and two additional independent directors to be recommended by starboard

* Starboard will also be recommending two additional independent directors to be added to perrigo board

* Perrigo's board of directors will be composed of 10 members until appointment of an additional board member

* Says entered into an agreement with Starboard Value LP, which owns approximately 6.7 percent of Perrigo's shares

* Jeffrey Kindler appointed to Perrigo board, effective immediately

* Current directors, Herman Morris, Shlomo Yanai, Michael Jandernoa, and Gary Kunkle will step down from board effective immediately

* Ellen Hoffing will step down from Co's board upon appointment of second additional board member recommended by starboard at a later date

* Bradley Alford will join Perrigo's nominating and governance committee

* Entered agreement with Starboard Value LP regarding membership, composition of Perrigo board, some customary standstill restrictions Source text for Eikon: Further company coverage:

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