ValueAct Clears Hurdle to Nominating a Director at Citigroup

ValueAct Capital Management‘s representative on the board of Alliance Data Systems Corp. resigned, clearing up a conflict that had prevented the activist investor from nominating a director at Citigroup Inc.

Alliance Data said Thursday that Kelly Barlow, ValueAct’s representative on the board, resigned effective immediately and that the board would be reduced to eight directors as a result.

Barlow’s position on the board was a key reason behind ValueAct’s decision not to seek a seat on the board of Citigroup in January. Alliance Data competes against Citigroup in co-branded and private-label credit cards, meaning ValueAct can’t have representatives ...