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Article: El Paso Corporation Believes ISS Reached Wrong Conclusion; El Paso Urges Shareholders to Vote the WHITE Proxy Card in Favor of El Paso's Board Nominees.
- Article from:
- PR Newswire
- Article date:
- June 3, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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El Paso Corporation today announced that it believes Institutional Shareholder Services' (ISS) reached the wrong conclusion in its recommendation regarding the election of the Zilkha/Wyatt slate nominees at the company's Annual Meeting of Shareholders to be held on June 17, 2003.
El Paso noted that ISS' recommendations are directed to its institutional clients, who are free to reject or accept the recommendations. Given El Paso's sizeable retail shareholder base and the fact that most larger institutions make their own decisions, El Paso believes that ISS' position will sway few votes.
Ronald L. Kuehn, Jr., El Paso's chairman and chief executive ...