In line with the recently approved proposal for the annual election of all directors, Reid will serve a one-year term that will expire at the 2009 annual meeting of the stockholders.
The appointment results from the agreement of November 2008, between the company and one of its stockholders, Ramius LLC, to form a selection committee to fill a board vacancy with a qualified and the experienced independent director. The committee, comprising of three independent directors, was charged with the recommending candidates to succeed the retired Peggy G. Miller. Upon the submission of nominees, the board of directors agreed to appoint Reid, whose addition brings the number of board of directors to 12.
Reid has spent most of his career in academia. He has also been Dean of the School of Business Administration at the University of Tennessee.
‘We are pleased to welcome Dr. Reid, whose expertise in strategic planning, management, marketing and business practice will serve A. Schulman well,’ said Joseph M. Gingo, chairman, president and chief executive officer. ‘Due to his university appointments and prior service on the Board of the Federal Reserve Bank of Chicago, he also brings us valuable academic and financial perspectives. I look forward to working closely with him.’
