Posted: May 2, 2013 3:58 PM by MTN News
Stillwater Mine shareholders voted today to put former Montana Governor Brian Schweitzer on their Board of Directors.
In a vote this afternoon at the mine, eight board members were seated. Shareholders split the board in half, with four coming from the current board and four elected from the Clinton group attempting to gain a majority. The vote today is the culmination of a takeover bid mounted by the Clinton Group.
Schweitzer was elected along with other Clinton Group members Charles Engles, Michael McMullen and Patrice Merrin. Maintaining their board positions from Stillwater are Frank McCallister, Michael Parrett, Gary Sugar and George Bee.
Stillwater Mine issued the following statement after the vote:
"We thank all our shareholders for their participation throughout this process. Over the last several weeks, we have had the opportunity to engage in productive and informative discussions with many Stillwater shareholders, and we value their continued input. Shareholders overwhelmingly recognize that we have a world-class resource base and that we have become one of the leading palladium producers in the world. We are committed to working collaboratively with our new and existing directors to create long-term value for all shareholders and ensure Stillwater's bright future."