WINNIPEG, July 14, 2011 – Empire Industries Ltd. (TSX-V: EIL) held its Annual Shareholders Meeting today. At the meeting, Ian Macdonald, Guy Nelson, Campbell McIntyre, Robert Marshall, Bruce Jackson, and Terence Quinn were re-elected as directors.
Four out of the six board members are independent: Ian Macdonald, Robert Marshall, Bruce Jackson, and Terence Quinn.
All four independent directors comprise the Corporate Governance Committee of the Board, chaired by Robert Marshall. The Audit Committee is chaired by Ian Macdonald, and is comprised of Ian Macdonald, Bruce Jackson, and Terence Quinn. Ian Macdonald is also Chairman of the Board.
Brett Third and Bill Rollins were not on the slate, and ceased to be directors as of the meeting. Brett Third has left the Company to pursue other endeavours. Bill Rollins continues to serve the Company as President of the Tornado Hydrovacs division.
“We believe that the Company would benefit from a smaller Board with a greater proportion of independent members,” said Guy Nelson, Chief Executive Officer. “We believe that the new composition of the Board will provide us with the strategic insight and vision needed to move the Company forward.”
Mr. Nelson added, “Brett and Bill have both made tremendous contributions to the Board, and we are grateful for their efforts. We wish Brett well in his future endeavours, and we thank him for his diligent service. Bill will continue to provide us with his vision and insights in his capacity as President of Tornado Hydrovacs.”