Fisher Communications Shareholders Elect Two Dissidents, Two Company Nominees To Board
May 19, 2011 at 2:05 PM (PT)
It was a split decision at FISHER COMMUNICATIONS, as shareholders have elected two of the company's own nominees and two of dissident shareholder FRONTFOUR CAPITAL's nominees to the company's board.
FISHER nominees RICHARD L. HAWLEY (an incumbent) and ROGER OGDEN were elected via proxy votes allocated by the Board under the election rules, while FRONTFOUR nominees JOSEPH J. TROY and MATTHEW GOLDFARB were also picked. HAWLEY, OGDEN, and TROY will serve as Class 3 directors with initial terms expiring in 2014, and GOLDFARB will serve as a Class 1 director with an initial term expiring as of next year's Annual Meeting. The Board will elect a new Chairman in the near future.
The company issued a statement reading, "We remain committed to building long-term value for all of our shareholders and we look forward to working with all of our newly elected directors to continue the operational and financial momentum that has enabled FISHER to deliver peer-leading growth. We are also very grateful to our departing Board members for their significant contributions and outstanding service to FISHER and our shareholders.
"We also appreciate the consideration and support from our shareholders, as well as the valuable insights they have offered to our Board and management team. Finally, we want to recognize the hard work and dedication of our employees, who have played an instrumental role in transforming FISHER into a leader in local media innovation and helping to build the foundation for our future success."