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Mercury Systems (NASDAQ:MRCY) announced Friday that it has appointed Howard Lance and Bill Ballhaus to its Board of Directors, effective immediately.
The additions to the Board are part of its cooperation agreements with activist investors JANA Partners and Starboard Value, who have also been pushing the company to sell itself.
The news also follows media reports in March that another activist investor, Elliott Management, has built a sizable position in Mercury Systems and has made an offer to acquire the company. Elliott Management was notably missing from the release.
Howard Lance is the former Chief Executive Officer of Maxar Technologies (NYSE:MAXR) and currently serves as Managing Partner at Lance Advisors, an advisory firm serving private equity and institutional investors.
In addition, Lance is non-executive Chairman of Summit Materials (NYSE:SUM), non-executive Chairman of Change Healthcare (NASDAQ:CHNG), and a Director of New Vista Acquisition Corporation, a SPAC focused on emerging technologies in aerospace, defense, and logistics.
Bill Ballhaus is the former Chairman and Chief Executive Officer of Blackboard. He is currently Chairman of MilestoneRoad Partners, a business consulting firm, and Executive Chairman at Government Brands, a provider of software and payments solutions for government customers.
“We are pleased to welcome Howard and Bill, two outstanding leaders with strong track records of overseeing growth and profitability, as well as valuable aerospace and defense and technology industry expertise, to our Board. Their appointments further the Board’s ongoing commitment to adding new directors with fresh insights and perspectives, diverse backgrounds and relevant expertise,” said William O’Brien, Chairman of Mercury’s Board of Directors.
