Based on preliminary results, the Independent
Slate received greater than 75% of votes cast
EL
SEGUNDO, Calif., June 30,
2022 /PRNewswire/ -- Eileen
Drake (the CEO of Aerojet Rocketdyne (NYSE: AJRD)) and
the other members of the Independent Slate announced today that
they have been elected by the shareholders of Aerojet Rocketdyne to
serve as directors. The new Board consists of CEO Eileen Drake; incumbent independent directors
Gen. Kevin Chilton (Ret.),
Thomas Corcoran and Gen.
Lance Lord (Ret.); and new
independent directors Gail Baker,
Marion Blakey, Maj. Gen.
Charles Bolden (Ret.), and
Deborah James.
Based on preliminary results, the Independent Slate received
more than 75% of votes cast. Ms. Drake received the most votes of
any individual director nominee, with support from greater than 83%
of votes cast.
"We are extremely grateful for the input and support from our
shareholders," said Eileen Drake,
CEO of Aerojet Rocketdyne. "The new Board consists of highly
qualified and experienced directors with track records of creating
tremendous shareholder value. Throughout this process, we have had
the privilege to speak directly with our shareholders to discuss
Aerojet Rocketdyne's strategy and performance, and we welcome the
opportunity for continued shareholder engagement. We are pleased
that our shareholders recognized the Independent Slate's value
creation strategy. We believe Aerojet Rocketdyne has substantial
momentum and upside, and we look forward to putting this proxy
fight behind us so we can continue to focus on creating value for
our shareholders."
"We would like to thank our shareholders for their perspectives
and feedback during this process, which the new Board will actively
consider. We acknowledge that a difficult and costly fight has
brought us to this point, but the time has come today to plot a
positive path and work with all our shareholders, including Steel
Partners, to maximize value. In that spirit, we would like to thank
Warren Lichtenstein and the other
departing board members for their service to our Company."
"We would also like to thank Evercore, Gibson Dunn, Paul Hastings, King & Spalding, Ballard Spahr, Richards Layton & Finger, and
D.F. King for their top-flight advice, expertise and experience
during this complicated process."
Additional information regarding the results of the 2022 Special
Meeting will be available in a current report on Form 8-K that will
be filed by Aerojet Rocketdyne with the Securities and Exchange
Commission and on the Company's investor website
ir.aerojetrocketdyne.com.
Important Information
This communication is being made in the participants' individual
capacity, and not by or on behalf of Aerojet Rocketdyne Holdings
(the "Company"). No Company resources were used in connection with
these materials.
CONTACT:
D.F. King & Co.
(212) 269-5550
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content:https://www.prnewswire.com/news-releases/aerojet-rocketdyne-shareholders-elect-the-entire-independent-slate-led-by-ceo-eileen-drake-301579064.html
SOURCE Committee for Aerojet Rocketdyne Shareholders and Value
Maximization