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Starboard seeks to nominate 3 Stewart Information Services board members

Starboard Value LP and affiliates seek to nominate Gavin Molinelli, Roslyn Payne and George Scanlon to Stewart Information Services Corp.'s board.

On Jan. 26, the entities agreed to jointly file their Schedule 13D statements related to Stewart Information Services' securities and solicit proxies or written consents for the election of the three nominees at the company's annual meeting.

The move comes a few months after Stewart Information Services disclosed that it was exploring strategic alternatives, including a sale of the company.

Molinelli is a partner of Starboard Value, while Payne is president and co-founder of real estate venture capital and investment company Jackson Street Partners Ltd. Scanlon is a private investor who recently served as CEO of Fidelity National Financial Inc.

The entities disclosed that they own 9.7% stake in Stewart Information Services.