After Naming Insperity Directors, Starboard Value Comes Back for More

Jeffrey Smith’s firm returns seeking two more board members for the human resources services company. Is the activist a boon or a distraction?


He’s baaaaaack!

Last March, Jeffrey Smith and his activist hedge fund firm, Starboard Value, reached a compromise agreement with Insperity. Under the deal, the Kingwood, Texas provider of human-resources services to small and mid-sized companies agreed to appoint two nominees from Starboard — including Starboard managing member Peter Feld — to its board of directors and promised to add at a later time a third nominated by Starboard and agreed-upon by the company.

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