Insperity expands investor’s influence on board

Insperity said last week its directors appointed Michelle McKenna-Doyle to the board, expanding it to 11 members as part of a deal with activist shareholder Starboard Value.

Starboard Value sent the Kingwood-based human resources outsourcing firm a letter in January, telling Insperity to cut spending and consider selling itself. At the time Starboard was Insperity’s largest stockholder.

In March, Insperity announced an agreement that involved Starboard appointing board members and reviewing the company’s strategy and spending.

Two board seats went to Starboard managing director Peter Feld and Norman Sorensen, former director and chairman of the International Insurance Society.

Works for NFL

McKenna-Doyle, chief information officer for the National Football League, is Starboad’s third addition to the board.

“Ms. McKenna-Doyle’s extensive background in technology, as well as her significant executive experience with customer-focused service businesses, adds directly relevant expertise and insight to our diverse board,” said Insperity CEO Paul J. Sarvadi.

Independent panel

As part of the agreement, Starboard and Insperity will also establish an independent advisory committee to review the business and make recommendations to the board on spending, perquisites, and other financial decisions. It will also set earnings goals for the next two years.