Microsoft gives ValueAct president option to join board
Aug 30 (Reuters) - Microsoft Corp said it signed an agreement with ValueAct Capital Management LP that provides the activist shareholder's president Mason Morfit an option to join Microsoft's board after the technology company's annual shareholder meeting.
The agreement also provides for regular meetings between Morfit and selected Microsoft directors and management to discuss a "range of significant business issues," Microsoft said.
Reuters reported last month that members of Microsoft's board held talks with ValueAct over the activist shareholder's demands to secure a seat on the company's board.
ValueAct owns about 0.8 percent of Microsoft's shares.
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