Navient, Sherborne Investors reach cooperation agreement; Edward Bramson to be nominated as new board member

Rhea-AI Summary

Navient Corporation (Nasdaq: NAVI) has announced that its Board of Directors will nominate Edward Bramson, a Sherborne Investors partner, for election at the upcoming annual meeting on June 2, 2022. Linda Mills, Navient’s Board Chair, expressed confidence in Bramson’s leadership and track record of enhancing shareholder value. Bramson, who has experience as chairman or CEO of several publicly traded companies, is committed to working towards the best interests of Navient’s stakeholders.

Positive

• Nomination of Edward Bramson is expected to enhance shareholder value.
• Bramson brings significant experience from his roles in various publicly traded companies.

Negative

• Concerns may arise regarding continuity and potential experience gaps on the board.

WILMINGTON, Del. and NEW YORK, April 18, 2022 (GLOBE NEWSWIRE) -- Navient Corporation (Nasdaq: NAVI) and Sherborne Investors today announced an agreement under which Navient’s Board of Directors will nominate Edward Bramson, a partner in Sherborne Investors, for election to Navient’s Board of Directors at Navient’s upcoming annual meeting, scheduled for June 2, 2022.

“We are pleased to welcome Ed as a nominee for the board and are confident his leadership skills, financial and capital markets knowledge and track record of enhancing shareholder value will be extremely beneficial,” said Linda Mills, chair of Navient’s Board of Directors. “We believe this agreement with Sherborne Investors, our largest shareholder, is in the best interests of all Navient shareholders.”

Edward Bramson said, “I am delighted to be nominated to join the board of Navient and, if elected, look forward to working with my fellow directors and Navient management to advance the interests of Navient’s shareholders and all of its stakeholders.”

Mr. Bramson is a partner in and co-founded Sherborne Investors, which manages equity investments in public and private companies. He has also served as chairman or chief executive officer of seven publicly traded companies in various commercial and financial sectors.

About Navient
Navient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education, health care and government. Learn more at navient.com.

Contact for Navient:
Media: Paul Hartwick, 302-283-4026, paul.hartwick@navient.com
Investors: Nathan Rutledge, 703-984-6801, nathan.rutledge@navient.com

Contact for Sherborne Investors:
Abernathy MacGregor
212-371-5999
Tom Johnson tbj@abmac.com
Jeremy Jacobs jrj@abmac.com
Deirdre Walsh dlw@abmac.com

FAQ

Who is Edward Bramson and why is he nominated for Navient's Board?

Edward Bramson is a partner at Sherborne Investors and has been nominated for election to Navient's Board to enhance shareholder value with his leadership and financial expertise.

When is Navient's annual meeting for the Board nomination?

Navient's annual meeting, where Edward Bramson will be nominated, is scheduled for June 2, 2022.

What impact could Edward Bramson's nomination have on Navient's shareholders?

Bramson's nomination is expected to positively influence shareholder value through his experience in enhancing financial performance in publicly traded companies.