Jana Partners publicly urged payments company Fiserv to divest non-core assets and appoint new directors. The firm requested new board members with specific expertise in banking software and payments.
Managing partner Scott Ostfeld announced the demands at a conference following months of private discussions. He stated that a portfolio and board refresh would help restore investor confidence.
Fiserv's stock price has declined significantly over the past year. Jana Partners acquired a stake in the company earlier this year to unlock shareholder value.
The firm supports Fiserv’s CEO while escalating its campaign to accelerate performance improvements. This public move signals an intensified effort to boost the company's market valuation.