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Stockholders Re-Elect All 11 Incumbent Ryerson Directors
08/24/2007 - Stockholders at Ryerson’s 2007 Annual Meeting of Stockholders re-elect all 11 Ryerson director nominees to the company’s Board of Directors.
Preliminary voting analysis for Ryerson Inc.’s 2007 Annual Meeting of Stockholders indicates that all 11 Ryerson director nominees were re-elected to the Board by stockholders at the Annual Meeting.
"I would like to thank our stockholders for their continued support," said Neil Novich, CEO of Ryerson.
During the 2007 Annual Meeting, stockholders also
- Ratified the selection of Ernst & Young LLP as the company's independent registered public accounting firm for 2007.
- Approved the Ryerson Annual Incentive Plan to qualify performance-based compensation as tax deductible by the company
- Voted against a stockholder proposal regarding repeal of provisions of or amendments to the company's By-Laws (if any) adopted after January 1, 2006 and prior to the 2007 Annual Meeting.
- Voted against a stockholder proposal to amend the company's By-Laws to provide that the company's Board of Directors will consist of not fewer than six (6) nor more than ten (10) directors.
“We now look forward to giving Ryerson's stockholders the opportunity to vote on the Platinum Equity transaction for $34.50 per share at a special meeting that will be scheduled in the coming months,” concluded Novich. “In the meantime, we will continue to focus on improving our business and implementing our strategic plan on behalf of our stockholders.”
Final results of the stockholder vote are expected to be available within the next two weeks.
Ryerson is a leading distributor and processor of metals in North America, with 2006 revenues of $5.9 billion. The company services customers through a network of service centers across the United States and in Canada, Mexico, India, and China.
