Argo appoints ‘seasoned investor’ to board of directors

Argo Group International Holdings has appointed J. Daniel Plants as an independent member of the company’s board of directors.

Plants is a seasoned investor, financial executive and senior advisor with three decades of experience helping companies successfully navigate change and unlock shareholder value, Argo said

Plants currently serves as chief investment officer of Voce Capital Management, which he founded in 2011 after working at several leading financial institutions, including in executive positions in the mergers and acquisitions groups at Goldman, Sachs & Co. and JPMorgan Chase, and in the securities law practice at Sullivan & Cromwell.

He currently serves as the executive chairman of Cutera and was until earlier this year a director at Calix, where he chaired the strategic review committee.

“At Argo, our board regularly reviews its composition to ensure we are best positioned to effectively oversee the execution of our strategy while navigating a dynamic market,” said Thomas Bradley, Argo executive chairman and chief executive officer.

“As a result, we are pleased to welcome Dan to the board during this pivotal time in Argo’s history. Voce Capital is Argo’s largest shareholder and Dan brings a valuable investor perspective and a unique understanding of our business. We are pleased to be continuing our long-standing collaboration and look forward to working more closely with Dan in this new capacity as we continue to position Argo for success and shareholder value creation.”

Plants added: “We continue to believe Argo is deeply undervalued and fully support the strategic review process that is currently under way. I am confident that the board will carefully consider all viable options during this comprehensive evaluation of strategic alternatives. I look forward to working with my fellow directors to achieve an outcome that maximises value for all Argo shareholders.”

With the addition of Plants, Argo’s board will comprise nine directors, eight of whom are independent, and six of whom have been appointed in the last three years. In connection with Plants’ appointment to the board, he will also be appointed to serve on the its strategic review committee and human resources committee.