Friday, May 6, 2011

StarTek Names New Board Members

Denver-based StarTek, a provider of business process outsourcing services, said Thursday evening that it is appointing Robert Sheft and Benjamin Rosenzweig to its board. Sheft and Rosenzweig will replace Albert C. Yates and Kay Norton. Sheft and Rosenzweig are being installed on the board as part of a settlement with Privet Fund LP, Privet Fund Management LLC, and others (the Privet Group), which owns approximately 25.77 percent of StarTek's outstanding shares. The deal to place the two on the board comes as part of deal to prevent Privet Group from proxy solicitations for any tender offer, business combination, or restructuring, as well as adding any further members to the board.