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  "documentTitle": "Tessera Technologies Inc. (TSRA)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2013-04-30 00:00:00",
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      "text": "This new Board composition has resulted in the same type of consolidation of power under the new Chairman, Richard Hill, that became problematic under the leadership of former Chairman, Robert Boehlke.",
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      "text": "We seriously question whether a comprehensive and objective search for independent candidates with appropriate skill sets for Tessera would have resulted in the selection of these individuals.",
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      "text": "Tessera’s slate has an alarming lack of relevant experience. There is not a single nominee who has run an intellectual property licensing business, has direct background in imaging technology components, has experience in patent law, or owns a material stake in the Company.",
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      "text": "David Nagel has been on the Board for 8 years and is responsible for overseeing years of terrible performance.",
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      "text": "The recent changes to the Board will allow the new Chairman, Richard Hill, to effectively control the Board.",
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      "text": "At least two of the new directors have direct ties to Mr. Hill: Mr. Chenault served in several roles at Novellus from 1991 to 2005, most recently as interim CFO, where he worked for Mr. Hill, who was CEO of Novellus for most of that time. Mr. Miner currently serves on the board of directors of LSI Corporation alongside Mr. Hill.",
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      "text": "The Company’s slate appears to have experience with semiconductor capital equipment and semiconductor product companies. However, Tessera is primarily an intellectual property licensing company, not a semiconductor product company.",
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      "text": "We believe that the Company, in an attempt to appease shareholders during this election contest, hastily assembled a new Board made up of a combination of incumbent directors and new directors, many of whom lack relevant experiences and have questionable allegiances.",
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      "text": "Tessera’s Newly Composed Board Is Also Problematic",
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