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  "documentTitle": "GCP Applied Technologies (GCP)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2020-04-30 00:00:00",
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      "text": "Note: If a majority of our nominees are elected to the Board, we would expect that our strategic plan will be implemented alongside GCP's management team...",
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      "text": "GCP spun off from W.R. Grace in February 2016 with attractive market share across major product categories. Despite a favorable industry environment, GCP's revenue has been stagnant and operating margins have declined. Management's performance has fallen far short of the Board's expectations. In the face of continued underperformance, the Board has seemed complacent. Rather than demanding accountability, the Board sanctioned four ineffective restructuring plans over three years, spending nearly $80 million. In 2019, the Board finally took action to change the CEO. We believe the Board's complacency stems from personal relationships and potential conflicts of interest. We have developed a plan to significantly improve revenue growth and margins. We have identified a group of highly qualified and relevant experts.",
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