BlackLine Enhances Governance and Strategic Direction with New Board Appointments
March 10, 2026 - Los Angeles, CA – BlackLine, Inc. (Nasdaq: BL), a leader in financial operations and digital transformation, has announced a significant restructuring of its Board of Directors through the addition of two independent directors, Storm Duncan and Megan Prichard. This strategic move comes as part of a cooperation agreement with Engaged Capital, LLC, aimed at enhancing corporate governance and driving shareholder value.
1. Strengthening the Board
The appointment of Duncan and Prichard is seen as a pivotal development for BlackLine. David Henshall, BlackLine’s Lead Independent Director and Chair of the Board’s Strategic Committee, expressed enthusiasm about the new additions, highlighting their diverse skill sets and experience. Duncan, who will also serve on the Strategic Committee alongside current director Scott Davidson, brings three decades of technology industry experience, particularly in mergers and acquisitions (M&A). His extensive background includes leadership roles at major firms and advising on high-profile tech transactions.
Megan Prichard, known for her work in disruptive technologies, has held various leadership roles at Uber, including Head of US Mobility and General Manager of Uber Air. Her experience in high-growth industries and technology positions her as a valuable asset as BlackLine navigates the evolving market landscape.
2. Commitment to Shareholder Value
Owen Ryan, BlackLine’s Chairman and CEO, reaffirmed the company's commitment to executing its strategic initiatives and delivering on its performance goals. He pointed to a promising revenue growth projection of 9.1% to 9.6% for 2026, driven by record bookings in 2025 and improved non-GAAP operating margins, which have increased nearly 6% over the past two years.
Ryan specifically noted the success of BlackLine Verity, the company’s industry-leading AI tool, which has seen a 50% rise in customer adoption from Q3 to Q4 of 2025. This momentum underscores BlackLine's focus on integrating AI capabilities to enhance its offerings and provide greater value to customers.
3. Engaged Capital’s Role
Glenn W. Welling, Founder and Chief Investment Officer of Engaged Capital, praised the collaborative effort in appointing the new directors and emphasized the importance of governance improvements. He stated that the expertise brought by Duncan and Prichard would be instrumental as BlackLine seeks to maximize value for its shareholders, especially in a rapidly changing market.
Engaged Capital, known for its owner’s perspective approach, has a history of working with undervalued public companies to unlock their potential. The cooperation agreement will be officially documented in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.
4. Advisors to the Agreement
In facilitating this agreement, BlackLine has enlisted the services of Morgan Stanley as its financial advisor, while Wilson Sonsini Goodrich & Rosati, Professional Corporation, acts as its legal advisor. On the side of Engaged Capital, Longacre Square Partners LLC is serving as a strategic advisor, with Olshan Frome Wolosky LLP providing legal expertise.
5. Looking Ahead
BlackLine is poised for a transformative period, leveraging its strengthened board to drive future growth and innovation. With an emphasis on AI and digital solutions for finance, the company aims to solidify its position as a leader in the industry. As it continues to evolve, BlackLine remains focused on delivering value to its customers and shareholders alike.
For more information about BlackLine and its initiatives, visit blackline.com.
