The proxy fight around Newell Brands is heating up, with Starboard Value nominating two additional directors to a full slate that it is proposing for election at the company's annual meeting. The hedge fund's statement came after the company announced on Feb. 22 a “refreshment” of its board of directors, nominating two new independent directors and announcing its intention to nominate a third one. In a letter to Newell's board, Starboard said its proxy battle was “largely about extremely poor execution, lack of accountability, unacceptable governance, [and] severe destruction of shareholder value.” Meanwhile, another veteran of the former Jarden Corporation, Ros L'Esperance, has resigned from Newell's board, joining Martin Franklin, Ian Ashken and Domenico De Sole, who are working with Starboard to try and regain control of the company.

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