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Article: El Paso Corp. Investor Blasts Severance Packages.

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Knight Ridder/Tribune Business News
Article date:
March 5, 2003
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By Laura Goldberg, Houston Chronicle Knight Ridder/Tribune Business News

Mar. 5--Taking his first swipe at El Paso Corp. since his recently launched attempt to replace its board, shareholder Selim Zilkha on Tuesday criticized certain company severance provisions.

Zilkha, a former El Paso board member who owns about 1.5 percent of the company's common stock, wants to install his own board, including himself.

He contends doing so is the best way to fix the company and is trying to convince other shareholders to support him in a vote targeted for El Paso's annual meeting.

But El Paso says it's already executing a turnaround plan and ...

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