Business News
Newspaper Publisher A. H. Belo Corporation Holds Annual Meeting of Shareholders
Friday 11. June 2010 - Newspaper publisher A. H. Belo Corporation (NYSE:AHC) held its Annual Meeting of Shareholders today. Shareholders re-elected two Class II directors: Laurence E. Hirsch, a director since December 2007 and chairman of Eagle Materials Inc., and John P. Puerner, a director since May 2008 and former publisher, president and Chief Executive Officer of the Los Angeles Times. These Class II directors are eligible to serve a three-year term until the 2013 annual meeting.
In accordance with the Company’s bylaws, J. McDonald (Don) Williams, a Class III director, retired from the Board of Directors at the Annual Meeting after 25 years of service as a director, committee chair and lead director of both Belo Corp. and A. H. Belo Corporation. Williams had reached the Board’s mandatory retirement age of 68. David R. Morgan, a Class I director since May 2008, also stepped down at the Annual Meeting. Morgan previously informed the Board of his desire to devote more time to his new Internet company, Simulmedia, which he launched in early 2009.
“Don Williams has served this Company with great distinction for a quarter of a century,” said Robert W. Decherd, A. H. Belo’s chairman, president and Chief Executive Officer. “It is hard to measure completely the breadth and impact of Don’s many contributions to the Board and the Company. As a champion of A. H. Belo’s journalistic responsibilities, he has stood out among his fellow directors.”
Decherd continued, “The Board and I are truly grateful to Dave Morgan for helping develop a promising strategy for A. H. Belo following its spin-off from Belo Corp. in February 2008. Dave has provided an invaluable perspective about the evolution of media during a critical time in the Company’s history and the newspaper industry, and his insights will have a lasting effect here.”
At today’s meeting, shareholders also ratified the appointment of KPMG LLP as A. H. Belo’s independent registered public accounting firm for 2010.
In his remarks at the Annual Meeting, Robert W. Decherd, chairman, president and Chief Executive Officer, assessed the Company’s performance in 2009 and outlined the Company’s efforts to propel the business forward in 2010.