Concentrix Corporation
05/01/2026 | Press release | Distributed by Public on 05/01/2026 15:25
Management Change/Compensation (Form 8-K)
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Under the terms of the Investor Rights Agreement, dated as of March 29, 2023 (the "Investor Rights Agreement"), by and among Concentrix Corporation (the "Company") and certain former stockholders of Marnix Lux SA, a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg and the former parent company of the Webhelp business, Groupe Bruxelles Lambert SA, a public limited liability company (société anonyme) incorporated under the laws of Belgium (together with its affiliates, "GBL") had the right to nominate one director to the Company's Board of Directors (the "Board") for so long as GBL beneficially owned at least 50% of the shares of the Company's common stock issued to GBL in connection with the Company's September 2023 acquisition of the Webhelp business (such ownership threshold, the "Board Nomination Threshold").
On April 29, 2026, GBL entered into a transaction that reduced its beneficial ownership of the Company's common stock below the Board Nomination Threshold. As a result, pursuant to the terms of the Investor Rights Agreement, Bilge Ogut resigned from the Board, including any committees thereof, effective immediately.
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