TrueBlue Inc. (NYSE: TBI) announced its Board of Directors will appoint a new independent director by September 30, 2026, as part of a cooperation agreement with EHS Investments.

The new director will be mutually agreed upon by TrueBlue and EHS Investments, according to the agreement. Eric H. Su, founder of EHS Investments, will provide strategic input to the Board and recommend candidates for evaluation as part of the selection process.

"The Board continues to advance its refreshment efforts and strengthen governance, and we look forward to adding a new independent director in the months ahead in coordination with EHS," said Jeffrey B. Sakaguchi, Chairman of the Board.

Under the cooperation agreement, EHS Investments withdrew its previously announced director nominations and agreed to support the Board's full slate of directors at the 2026 Annual Meeting of Shareholders. The agreement includes customary standstill, mutual non-disparagement, and voting provisions.

TrueBlue previously announced that two current directors are expected to step down from the Board at or before the 2026 Annual Meeting. Following the appointment of the new independent director, the Board will consist of ten directors, nine of whom will be independent.

The company will file the cooperation agreement with the U.S. Securities and Exchange Commission as an exhibit to a Current Report on Form 8-K.

Barclays is serving as financial advisor and Sidley Austin LLP as legal counsel to TrueBlue. Olshan Frome Wolosky LLP is acting as legal counsel to EHS Investments.