In This Article:
Implements Corporate Governance Enhancements
Follows Constructive Engagement with Arkhouse
NEW YORK, April 29, 2025 /PRNewswire/ -- IAC (NASDAQ: IAC) today announced that it intends to add Tor R. Braham to its Board of Directors in connection with the Company's 2025 Annual Meeting of Stockholders.
"We look forward to welcoming Tor Braham to the Board," said Bonnie Hammer, Chair of the Board's Nominating Committee. "We believe Mr. Braham's background in technology and capital markets as well as his board service experience will be valuable as IAC continues to execute its strategy."
Upon his addition to the Board, Mr. Braham is expected to join the Nominating Committee, which will be renamed the Nominating and Corporate Governance Committee.
Mr. Braham's addition to the IAC Board follows the Company's constructive engagement with shareholder Arkhouse Management Co. LP. "We've enjoyed the open, thoughtful dialogue with IAC and are confident that Tor Braham will be a strong addition to the boardroom as the Company works to create value for all shareholders," said Gavriel Kahane, Managing Partner at Arkhouse.
In addition to Mr. Braham, the Board has nominated the following eleven candidates for election at the 2025 Annual Meeting: Chelsea Clinton, Barry Diller, Michael D. Eisner, Bonnie S. Hammer, Victor A. Kaufman, Bryan Lourd, David Rosenblatt, Maria Seferian, Alan G. Spoon, Alexander von Furstenberg and Richard Zannino. The candidates for election by the common stockholders will be Mr. Braham, Mr. Spoon, and Mr. Zannino. Mr. Braham and Mr. Zannino were selected for election by the common stockholders in consultation with Arkhouse.
Following the 2025 Annual Meeting, the Board also intends to adopt a director resignation policy for nominees who receive less than a majority of votes cast in uncontested director elections.
About Tor R. Braham
Tor R. Braham has served as a member of the board of directors of A10 Networks 10, Inc. since March 2018. He also served as a director of Viavi Solutions Inc., a network and service enablement and optical coatings company from May 2017 to November 2024. Mr. Braham is also Of Counsel to the law firm of King, Holmes, Paterno and Soriano, LLP. He previously served as a member of the board of directors of Yahoo! Inc., a provider of web services from April 2016 to June 2017, Altaba, Inc., a publicly traded investment company from June 2017 to December 2021, NetApp, Inc., a computer storage and data management company, from September 2013 to March 2016, Sigma Designs, Inc., an integrated circuit provider for the home entertainment market, from June 2014 to August 2016, Live Oak Acquisition Corp from February 2020 to December 2020, and Live Oak Acquisition Corp II, from December 2020 to October 2021. Mr. Braham served as Managing Director and Global Head of Technology Mergers and Acquisitions for Deutsche Bank Securities Inc., an investment bank, from 2004 until November 2012. From 2000 to 2004, he served as Managing Director and Co-Head of West Coast U.S. Technology, Mergers and Acquisitions for Credit Suisse First Boston, an investment bank. Prior to that role, Mr. Braham served as an investment banker with Warburg Dillon Read LLC and as an attorney at Wilson Sonsini Goodrich & Rosati. Mr. Braham holds a J.D. from New York University School of Law and a B.A. from Columbia College.