Enviri (NVRI) Adds Independent Directors

By Tamara Parker • Tuesday, January 21 10:25 • Permanent Link

Enviri Corporation (NYSE: NVRI) has just announced a significant update to its board of directors refreshment plan. Under this plan, the company will be adding two new independent directors to its board as part of a cooperation agreement with Neuberger Berman Investment Advisers. This move comes as part of Enviri's ongoing efforts to enhance its board with a focus on skill sets that will advance the company's longer-term strategy.

The company has been actively refreshing its board, having added three new members within the last four years, and it anticipates making further enhancements. As part of the board refreshment plan, one incumbent director will not stand for re-election at the 2025 annual meeting, and a second will not stand for re-election at the following annual meeting. Additionally, Enviri expects to continue making changes to its board of directors in 2026 as part of its ongoing plan.

Nick Grasberger, Chairman, and CEO of Enviri, emphasized the company's commitment to excellence in corporate governance, ongoing board refreshment, and active engagement with stockholders. Grasberger stated, "We look forward to welcoming exemplary members to our board this year and in the future. Our directors are focused squarely on the execution of Enviri’s strategic priorities to drive meaningful growth and deliver sustainable value."

Benjamin Nahum, Senior Portfolio Manager and Managing Director at Neuberger Berman, expressed confidence in Enviri's potential and the company's ability to unlock significant value. He also emphasized their commitment to collaborating with the board to identify candidates whose expertise can address the company’s operating priorities while promoting long-term shareholder value.

Enviri and Neuberger Berman have entered into a customary cooperation agreement, with the full cooperation agreement to be filed by Enviri on a form 8-K with the U.S. Securities and Exchange Commission.

This announcement marks a significant development in Enviri's corporate governance structure and strategic direction, as the company continues to focus on driving increased value for its stockholders through board refreshment and active engagement with its investors. The market has reacted to these announcements by moving the company's shares 4.8% to a price of $9.04. Check out the company's full 8-K submission here.

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