GREENWOOD VILLAGE, Colo.,
Jan. 26, 2016 /PRNewswire/ -- Ciber,
Inc. (NYSE: CBR), a leading global information technology
consulting, services and outsourcing company, today announced that
the Ciber Board of Directors has amended the Company's bylaws to
adopt a majority voting standard for the election of directors in
uncontested director elections.
"Today's announcement demonstrates the Ciber Board of Directors'
proactive commitment to strengthening our corporate governance
standards and promoting transparent communication with
stockholders," said Bobby Stevenson,
Ciber Co-Founder and Chairman of the Board of Directors. "Our new
policy is consistent with our commitment to enhancing value for all
Ciber stockholders and follows several important measures that
Ciber's Board has implemented to better serve their interests."
The Company's new majority vote standard, which is effective
immediately and applies to all future elections, requires each
director nominee to receive a majority of the votes cast to be
elected to the Board. Previously, under a plurality standard,
candidates receiving the most votes were elected, regardless of
whether those votes constituted a majority. Plurality voting will
still apply in contested elections in which a stockholder has duly
nominated a person to the Board and has not withdrawn that
nomination at least five days prior to the first mailing of the
notice of the meeting of stockholders.
The new majority voting standard builds on a series of measures
that Ciber's Board of Directors has implemented over the past two
years to better serve the interests of stockholders, including:
- Refreshed and enhanced Board composition with three new
independent directors added in 2015 and one new independent
director in 2014;
- Terminated the Company's shareholder rights agreement;
- Appointed Michael Boustridge, a technology executive with
extensive expertise in the IT services industry, as president and
chief executive officer; and
- Expanded stockholder engagement as part of the Board's
commitment to promote transparent communications and better serve
stockholders' interests.
About Ciber
Ciber is a global IT consulting company with some 6,500
employees in North America,
Europe and Asia/Pacific, and is approaching $1 billion in annual business. Ciber partners
with organizations to develop technology strategies and solutions
that deliver tangible business value. Founded in 1974, the company
trades on the New York Stock Exchange (NYSE: CBR). For more
information, visit www.ciber.com and follow us on Twitter,
LinkedIn, Facebook, Google Plus and our blog.
© 2016 Ciber, Inc. All rights reserved. Ciber, the Ciber logo,
and the names and marks associated with Ciber's products are
trademarks and/or service marks of Ciber, Inc. and are registered
and/or common law marks in the United
States and various other countries. All other trademarks are
property of their respective owners.
Contact:
Scott
Kozak
Investor Relations
303-967-1379
skozak@ciber.com
Kelly Butler
Media Relations
972-244-8082
kbutler@ciber.com
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SOURCE Ciber, Inc.