Carpenter Adopts Majority Voting Standard for Election of Directors and Appoints Chief Governance Officer
August 17 2015 - 3:32PM
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Investor Inquiries:
William J. Rudolph, Jr.
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Carpenter Adopts
Majority Voting Standard for Election of Directors and Appoints
Chief Governance Officer
WYOMISSING, Pa. (August 17, 2015) - Carpenter
Technology Corporation (NYSE:CRS) today announced governance
enhancements based on shareholder engagement.
Carpenter's Board of Directors amended the
Company's By-Laws to adopt a majority vote standard for uncontested
director elections. The new standard is effective immediately
and will apply to all future uncontested election of directors to
the Company's Board. The amended By-Laws are available on the
Company's website.
"The Board's decision to adopt a majority voting
standard demonstrates the Company's strong commitment to a sound
governance framework," said Gregory Pratt, Carpenter's Chairman of
the Board. "We heard from our shareholders that they consider
majority voting a priority. We reviewed our voting standards
and concluded that adoption of majority voting is in the best
interests of Carpenter and its shareholders."
Carpenter's Board of Directors also appointed the
Company's first Chief Governance Officer, James D. Dee, who
currently serves as Vice President, General Counsel and
Secretary. Said Mr. Pratt, "Our Board and our Management Team
wanted to make it easier for shareholders to communicate with us
about governance, compensation and corporate responsibility
issues."
###
About Carpenter
Technology
Carpenter produces and distributes premium alloys,
including special alloys, titanium alloys and powder metals, as
well as stainless steels, alloy steels and tool steels. Information
about Carpenter can be found at www.cartech.com.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Carpenter Technology Corp. via Globenewswire
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