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Algonquin Power & Utilities Corp. Announces Extension of Cooperation Agreement with Starboard and Additions to the Board of Directors

1. AQN appoints CEO Rod West to the Board, enhancing leadership continuity. 2. Gavin Molinelli's appointment requires regulatory approval, indicating strategic alignment with investors.

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Why Bullish?

The appointment of a seasoned CEO and a new board member from a respected investment firm may boost investor confidence. Historically, leadership changes that align with shareholder interests have led to positive price movements.

How important is it?

Leadership changes typically carry weight in stock movements, particularly when they involve stakeholders like Starboard, indicating increased investor oversight.

Why Long Term?

Establishing a strong board could lead to strategic initiatives that positively affect AQN's performance over time, as seen in other utilities that enhanced governance frameworks.

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STARNEEDUK
OAKVILLE, Ontario--(BUSINESS WIRE)---- $AQN--Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) (“AQN”, “Algonquin” or the “Company”) announced today that its Board of Directors (the "Board") has appointed CEO Rod West to the Board. The Board also intends to appoint Gavin Molinelli, Senior Partner and Portfolio Manager at Starboard Value LP (together with certain of its affiliates, “Starboard”) to the Board, subject to approval by the Federal Energy Regulatory Commission. Mr. Molinelli's appointment.

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