Acacia Research Corporation announced that Clifford Press will retire from his Board position, having overseen Acacia's transformation, first as a board member, then as CEO, for the last four years. Gavin Molinelli, Partner and Portfolio Manager at Starboard, will join Acacia's Board of Directors (the “Board”) as Chair. Gavin Molinelli is a Partner and Portfolio Manager of Starboard Value LP.

Over the past 10 years, Mr. Molinelli has served on the boards of Forest City Realty Trust Inc., Depomed Inc., and Wausau Paper Corp. Prior to Starboard's independent firm formation in 2011, as a spin-off, Mr. Molinelli was a Director and an Investment Analyst at Ramius LLC for the funds that comprised the Value and Opportunity investment platform. Previously, Mr. Molinelli was an analyst in the Technology Investment Banking group at Banc of America Securities LLC.

Mr. Molinellireceiveda B.A. in Economics from Washington and Lee University.