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      "text": "Starboard’s settlement with Box resulted in long-overdue changes, with continued room for improvement",
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      "text": "Box Announces Agreement With Starboard 3/23/20 Three New Independent Directors to Join Board Announces Formation of Operating Committee to Drive Growth and Margin Improvement",
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      "text": "During our engagement, we developed a view that meaningful changes were likely needed to sustainably improve performance. However, the Board and management were insistent that the Company simply needed a bit more time to prove out its ability to accelerate growth and improve margins. In furtherance of our constructive engagement, we agreed to a settlement in March 2020.",
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      "text": "Green box: Added two new independent directors... Removed three directors... CFO agreed to step down... Formed an Operating Committee. Red box: Refused to remove supermajority... Incumbent Lead Director left... Appointed new director with negative views... Failed to address compensation... Failed to instill accountability.",
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