{ "docId": "019dd923-622b-71dc-a6d9-aa56741b6a55", "docSlug": "fade76df1897", "documentTitle": "DSP Group, Inc. (DSPG)", "authorId": "03_Starboard_Value", "authorName": "Starboard Value", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2013-05-13 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 4, "pageCount": 50, "prevPage": 3, "nextPage": 5, "slideType": "key_messages", "function": "introduce_nominees", "density": "dense", "nDataPoints": 0, "notes": "This is a classic activist deck slide framing the incumbent board as obstructionist and the new nominees as the solution.", "elementsJson": [ "headline_text", "paragraph", "bullet_list" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622b-71dc-a6d9-aa56741b6a55/4", "deckHref": "/decks/019dd923-622b-71dc-a6d9-aa56741b6a55", "deckJsonHref": "/decks/019dd923-622b-71dc-a6d9-aa56741b6a55.json", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-aa56741b6a55#slide-4", "components": [ { "bbox": null, "kind": "callout", "text": "A New Mandate at DSP is Required to Ensure Alternative Viewpoints are Allowed to Be Introduced and are Properly Considered in the Boardroom", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b7-702e-962e-0830a826a93b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.85, "x": 0.08, "y": 0.27 }, "kind": "list", "text": "The current Board has prevented the two directors elected under last year's settlement from effectively participating in, and adding value to, board deliberations. Thomas Lacey and Kenneth Traub are experienced Board members who have excellent track records for creating value at companies where they have served. Instead of welcoming Messrs. Lacey and Traub as new Board members and valuable contributors, as the Company promised in an April 5, 2012 press release, the Board has instead unfairly cast these directors aside as “hand-picked” Starboard directors and, in so doing, has prevented the introduction of alternative, independent viewpoints into boardroom discussions.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7e1f9d4d-c692-49eb-a1fe-57298945cefc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.85, "x": 0.08, "y": 0.59 }, "kind": "list", "text": "Our nominees will work with management to put in place clear milestones for new projects and hold management accountable for reaching those goals, rather than continue to irresponsibly invest substantial sums in R&D without appropriate returns. Our nominees will closely monitor the expenses included in management's budgets and look to drive DSP toward best-in-class operating performance while continuing to invest in new products to drive future revenue growth. Our nominees will assess the Company's intellectual property position and determine whether to enter into any licensing businesses or explore alternatives for any of its intellectual property.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "82ff41da-b57b-48e1-9045-dbc74494eddc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.85, "x": 0.08, "y": 0.21 }, "kind": "paragraph", "text": "Additional change is necessary since the Board has essentially cast aside the two directors elected pursuant to last year's settlement.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "007ab98c-5323-457a-8382-ceacb304839e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.85, "x": 0.08, "y": 0.53 }, "kind": "paragraph", "text": "Our three independent nominees, Michael Bornak, Norman J. Rice and Norman P. Taffe, have exceptional qualifications, successful track records and have a better plan to enhance value at DSP.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "76f129f1-47ab-4419-b75d-c5ff787e87c7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.85, "x": 0.08, "y": 0.85 }, "kind": "title", "text": "A New Mandate at DSP is Required to Ensure Alternative Viewpoints are Allowed to Be Introduced and are Properly Considered in the Boardroom", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2f29b28e-9587-41c9-914c-c3da82be4931", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.85, "x": 0.08, "y": 0.1 }, "kind": "title", "text": "Additional Change is Necessary and Our Nominees are More Qualified to Effect that Change and Add Value in the Boardroom", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "21985e4f-5fc8-4dbe-9091-02fb15a24dc3", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Thesis archetype", "slug": "thesis-archetype", "agent": null, "layer": "slide", "matchId": "8c05a071-84c4-462a-a192-a1667dc01f3b", "evidence": "Our nominees will work with management to put in place clear milestones for new projects and hold management accountable for reaching those goals, rather than continue to irresponsibly invest substantial sums", "confidence": 0.7 } ], "frameworks": [], "arcBeats": [ { "to": 5, "from": 3, "beatId": "3069afd5-0c59-47a0-98d5-0c1acd33f9b5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "Slides 3-5 identify the problem of underperformance and corporate governance concerns.", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }