Qorvo Announces Intent to Nominate Peter Feld of Starboard Value for Election to the Board at the 2025 Annual Meeting

Nomination Follows Constructive Engagement with Starboard Value

GREENSBORO, N.C., May 19, 2025 (GLOBE NEWSWIRE) -- Qorvo (NASDAQ: QRVO), a leading global provider of connectivity and power solutions, today announced that its Board of Directors (the “Board”) has resolved to increase the size of the Board from nine to ten directors and to include Peter Feld as one of the Company’s director nominees in its proxy statement for the Company’s 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”).

The Board has also resolved to recommend that stockholders vote in favor of all Company director nominees, including Mr. Feld, at the 2025 Annual Meeting.

Given the Company’s intention to nominate Mr. Feld, Starboard has agreed to rescind its nomination notice.

Bob Bruggeworth, President and CEO of Qorvo, said, “Peter shares our goal of driving value for Qorvo shareholders and will bring additional technology industry knowledge and complementary perspectives, adding to our very qualified and experienced Board.”

“We invested in Qorvo because of the tremendous potential we see in the Company’s strong product portfolio and leading industry position, which provide the foundation for Qorvo to drive continued improvement in growth, profitability, and value creation,” said Peter Feld, Managing Member of Starboard Value LP. “I am pleased to be nominated to the Board and look forward to working collaboratively with my fellow directors and the management team to help Qorvo capitalize on opportunities to drive long-term shareholder value.”

About Peter A. Feld

Peter A. Feld is a Managing Member, Portfolio Manager and Head of Research of Starboard Value LP since April 2011 and has significant expertise serving as a shareholder representative on numerous technology company boards that have created substantial value for shareholders. Mr. Feld has substantial experience in corporate finance, best-in-class corporate governance, and a deep understanding of capital markets. Prior to founding Starboard in 2011, Mr. Feld was a Managing Director and Head of Research at Ramius LLC for funds that comprised the Value and Opportunity investment platform. Prior to joining Ramius in February 2005, Mr. Feld was an analyst in the Technology Investment Banking group at Banc of America Securities LLC. Previously, he served as a member of the boards of directors of Gen Digital Inc., a global leader dedicated to powering Digital Freedom through its family of consumer brands, from September 2018 to May 2025; Green Dot Corporation, a financial technology company, from March 2022 to October 2023; GCP Applied Technologies, Inc., a technology company, from June 2020 until it was acquired by Compagnie de Saint-Gobain S.A. in September 2022; Magellan Health, Inc., a healthcare company, from March 2019 until it was acquired by Centene Corporation in January 2022; AECOM, a multinational infrastructure firm, from November 2019 to June 2020; Marvell Technology Group Ltd., a storage, networking and connectivity semiconductor solutions company, from May 2016 to June 2018; The Brink's Company, a global leader in security-related services, from January 2016 to November 2017; Insperity, Inc., an industry-leading HR services provider, from March 2015 to June 2017; Darden Restaurants, Inc., a full-service restaurant company, from October 2014 to September 2015; Tessera Technologies, Inc. (n/k/a Xperi Corporation), a leading product and technology licensing company, from June 2013 to April 2014; and Integrated Device Technology, Inc., a company that designed, developed, manufactured and marketed a range of semiconductor solutions for the advanced communications, computing and consumer industries, from June 2012 to February 2014. Mr. Feld received a B.A. degree in Economics from Tufts University.