{
  "docId": "019dd923-622c-750b-8b9c-e7508bf92a94",
  "docSlug": "84e240d51920",
  "documentTitle": "Huntsman Corporation (HUN)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-02-28 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 5,
  "pageCount": 238,
  "prevPage": 4,
  "nextPage": 6,
  "slideType": "problem_statement",
  "function": "frame_problem",
  "density": "dense",
  "nDataPoints": 0,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "paragraph",
    "bullet_list",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-e7508bf92a94/5",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94#slide-5",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.92,
        "x": 0.04,
        "y": 0.85
      },
      "kind": "callout",
      "text": "We believe Huntsman urgently needs strong independent board members who will demand accountability and work to maximize value for ALL shareholders.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "957e85a5-ce8e-45c7-bdcc-47c72b45c81a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.71
      },
      "kind": "list",
      "text": "We believe Huntsman needs strong independent board members who will demand both improved performance and accountability, in order to help drive improved results and shareholder value.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5c54d823-a5ba-44dd-860d-cb21a90984da",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.38
      },
      "kind": "list",
      "text": "Over many years, we believe the Company has engaged in an unfortunate pattern of promising attractive commitments but ultimately failing to deliver.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8d58fc35-29bf-4171-a071-247560474be8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.48
      },
      "kind": "list",
      "text": "We believe the Board has also demonstrated continued poor governance and has consistently failed to hold management accountable.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "99c4cc23-2e87-4377-8bae-e0c023ba29a8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.92,
        "x": 0.04,
        "y": 0.27
      },
      "kind": "list",
      "text": "Huntsman is a company with highly attractive assets, strong market positions, diverse product portfolios, innovative chemistries, and a difficult-to-replicate manufacturing footprint.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b891c77c-745c-4b23-8d2e-dee89a05c880",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.58
      },
      "kind": "list",
      "text": "As demonstrated by the Company’s significant long-term share price underperformance versus peers, as well as both the chemicals and broader market indices, we believe the Company’s immense intrinsic potential has not been realized under the current Board and management.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f148ff36-8f36-4a6f-9bd0-61f9b2cb6a13",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "Starboard Value LP (together with its affiliates, “Starboard” or “we”) invested in Huntsman Corporation (“Huntsman” or the “Company”) because we believe that with greater oversight from the Board of Directors (the “Board”) and management accountability, tremendous value can be created for ALL shareholders.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "14a96273-c053-4ef6-a64e-b9b87cfa8aca",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.75,
        "x": 0.04,
        "y": 0.07
      },
      "kind": "title",
      "text": "Starboard Value’s Investment in Huntsman",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bb7980df-3bc7-461d-a075-3ef9932df9f3",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Audience Definition",
      "slug": "audience-definition",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "4ea74e12-6f89-4fd0-abfc-9d5d2b495e14",
      "evidence": "The slide implies an audience of shareholders or investors.",
      "confidence": 0.5
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 5,
      "from": 5,
      "beatId": "506da228-f2a3-4496-a061-9a6b718e8a1e",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Problem Statement",
      "beatSlug": null,
      "evidence": "The document starts with a clear problem statement, highlighting the company's need for strong independent board members.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}