Dynatrace adds two directors after Starboard engagement

Dynatrace (NYSE: DT) has appointed George Riedel and Dan Streetman to its board of directors, effective immediately, following engagement with activist investor Starboard Value LP, according to a company statement.

Riedel has held executive roles at technology companies including Cloudmark, where he served as CEO and chairman, and Nortel Networks, where he was chief strategy officer. He has also served as a senior partner at McKinsey & Co. and currently chairs the boards of Juvare and Bridgeway Benefits Technologies.

Streetman is the current CEO of Tanium, a privately held cybersecurity and systems management company. He previously served as CEO of TIBCO Software and has held senior roles at BMC, Salesforce, and C3.ai. Both Riedel and Streetman hold M.B.A. degrees from Harvard Business School.

Dynatrace also announced plans to hold an Investor Day following its second quarter fiscal year 2027 financial results. The company said it intends to outline its path to achieving a "Rule of 50" target — defined as the sum of its annual recurring revenue growth rate and non-GAAP operating margin percentage — by fiscal 2029.

The company reiterated its intention to continue share repurchases under its existing $1 billion authorization and said it plans to communicate a capital return framework at the Investor Day.

Peter Feld, managing member and head of research at Starboard, said the firm invested in Dynatrace based on its view that the company stands to benefit from enterprise AI adoption and has opportunities to grow revenue, expand margins, and return capital to shareholders.

Jill Ward, chair of Dynatrace's board, said the company appreciates its engagement with Starboard and looks forward to executing on a shared vision for the company's future.

You May Also Be Interested In

• Freedom Broker Upgrades Willis Lease Finance Corp. (WLFC) to Buy
• Bank of America to acquire up to 49.9% stake in Jio Credit for ~$1.9B
• Splash Beverage Group to rename as Endovia Health Sciences on Aug. 21