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Ashland Global Reach Agreement With Cruiser Capital Master Fund

Ashland Global Holdings Inc. (ASH) Tuesday said it reached an agreement with Cruiser Capital Master Fund LP to consult with Cruiser Capital, in addition to its other shareholders, on the previously announced search for two new independent directors to be appointed to the Ashland board.

The company will also appoint William Joyce, retired former chairman and chief executive officer of Nalco, Hercules Inc. and Union Carbide Corporation, and vice chairman of Dow Chemical, as a consultant to the company on operations-related matters.

As part of the agreement, Cruiser Capital will withdraw its slate of director nominees and vote all of its shares in favor of each of Ashland's board nominees and proposals at the 2019 Annual Meeting of Stockholders.

Additionally, the board of directors will appoint one or both of Craig Rogerson and Jerome Peribere to the Governance and Nominating Committee of the board following the 2019 Annual Meeting.

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