Business

EMC works with activist investor, picks 2 new board members

EMC Corp. said Monday it has added two members to its board of directors with the help of Elliott Management, a New York hedge fund and major investor that has been pushing for changes at the Hopkinton-based data storage giant.

The new directors are Covidien chief executive José E. Almeida and Donald J. Carty, chairman of Virgin America Airlines Inc. EMC did not replace any of its existing board members but rather expanded to 13 directors.

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“Joe Almeida and Don Carty are two highly experienced leaders of major global corporations who will bring added depth and insights to our board of directors,” EMC chief executive Joe Tucci said in a statement. “We are delighted to welcome both Joe and Don to the board.”

Elliott wrote a letter to EMC’s board of directors in October arguing that the company should break up its business and consider merger and acquisition opportunities with other large technology companies. In particular, Elliott advocated spinning off the VMWare software unit.

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EMC has indicated it has no plan to break up the company but included Elliott in the board selection process.

Jesse Cohn, portfolio manager at Elliott Management, said in a statement that Almeida and Carty “will bring invaluable perspectives to the board’s ongoing review of EMC’s strategic direction.”

Callum Borchers can be reached at callum.borchers@globe.com. Follow him on Twitter @callumborchers.
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