Quantum and Starboard reach agreement on board of directors composition
London., 29 July 2014 – Quantum Corp. (NYSE: QTM) today announced that it has entered into an agreement with Starboard Value LP and its affiliates (“Starboard”) regarding the membership and composition of Quantum’s board of directors. Under the agreement, Quantum will renominate Jeffrey Smith, CEO of Starboard, and two other current Starboard-recommended directors – Louis DiNardo, president and CEO of Exar Corp., and Philip Black, former president and CEO of Nexsan Technologies – for election at Quantum’s 2014 Annual Meeting of Stockholders. Quantum will also nominate an additional