Business News
Eastman Stockholders Reelect Board Members, Ratify Appointment of Independent Auditors, and Vote on Stockholder Proposals
Monday 11. May 2009 - Eastman Chemical Company (NYSE:EMN) stockholders reelected directors Stephen R. Demeritt, Robert M. Hernandez, Lewis M. Kling and David W. Raisbeck to three-year terms at the company's annual meeting. Stockholders also ratified the appointment of PricewaterhouseCoopers LLP as independent auditors for Eastman for 2009.
In other business, stockholders rejected a proposal requesting that management revise the companys employment nondiscrimination policy and supported a proposal requesting that the Board of Directors take the steps necessary to give stockholders owning 10% of outstanding common stock the right to call special meetings. The proposal to give stockholders the right to call special meetings received a majority of the votes cast on that proposal at the meeting but was favored by less than a majority of outstanding shares.
Additional information about each of the matters acted upon by stockholders at the annual meeting is in the proxy statement that was furnished to stockholders in connection with the meeting. The proxy statement is also available at www.investors.eastman.com, Annual Meeting. The final vote totals for the matters acted upon by stockholders at the annual meeting will be posted on the companys website at www.investors.eastman.com, Annual Meeting when they are available, and will also be reported in the company’s Quarterly Report on Form 10?Q to be filed with the SEC following the second quarter of 2009.
As previously announced, immediately following the annual meeting James P. Rogers succeeded J. Brian Ferguson as Chief Executive Officer, and Mr. Ferguson became Executive Chairman of the Board.