A. Schulman: CEO Gingo won't participate as voting member in strategic review |
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Mon, 31 Dec 2007 18:17
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SAN FRANCISCO (Thomson Financial) - A. Schulman Inc. said Monday its new chief executive, Joseph Gingo, won't participate as a voting member of the special committee formed to consider strategic alternatives.The committee is reviewing all alternatives, including an acquisition, merger, or sale of the company, A. Schulman said.The Akron, Ohio-based chemicals and materials company issued its statement in connection with its presentation to proxy advisory firm Institutional Shareholder Services regarding its upcoming annual meeting.'The company's actions to date, including the formation of a special board committee and Mr. Gingo's decision to not participate as a voting member of that committee, prove once again A. Schulman's commitment to working cooperatively with shareholders to address their concerns,' said Will Holland, lead independent director, in a statement.A. Sculman also urged shareholders to elect its slate of board nominees.The company's stock was up 12 cents at $21.22.Katherine Huntkh/gmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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A. Schulman names Joseph M. Gingo as CEO 