The Williams Companies announced on Monday that it intends to appoint three new independent directors to its Board of Directors, prior to the company’s annual meeting, according to a Williams press release.
The Tulsa-based pipeline company will expand the board to 10 directors, all of whom will stand for election at the company’s annual meeting set for November 23.
The Williams Board was abruptly rocked by six resignations in June following the company’s failed merger with Dallas-based Energy Transfer Equity.
Leadership consulting firm, Spencer Stuart, will assist Williams with seeking highly qualified candidates for the Board nominations. The Williams Board must present its recommendation on director nominees in the company’s proxy statement to be filed with the Securities and Exchange Commission and mailed to all stockholders eligible to vote at the 2016 Annual Meeting.
“Williams is looking forward to broadening the expertise and perspective of the Board with the addition of three new, independent directors in the near term,” said Dr. Kathleen B. Cooper, Chairman of the Williams Board of Directors. “The Williams Board and management team will continue to take decisive actions to position Williams for the future and enhance stockholder value.”