16 April 2007 23:14 [Source: ICIS news]
HOUSTON (ICIS news)--Dow Chemical said on Monday it removed former executive J. Pedro Reinhard from its list of nominees to the company’s board.
Dow fired Reinhard as senior advisor earlier this month on allegations that he talked with other parties about acquiring the company. Dow fired another executive, Romeo Kreinberg, for the same reason.
Reinhard and Kreinberg have denied participation in unauthorised talks concerning the company, according to news media reports.
Dow said it removed Reinhard from the list of nominees on the recommendation of the board’s governance committee.
Dow said it also reduced the board’s size by one seat. The remaining 11 board nominees are all current directors.
Reinhard kept his seat on the board despite his firing, since only stockholders can remove members from the board.
Stockholders will vote on the nominees during the company’s annual meeting on10 May at ?xml:namespace>
By Al Greenwood
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