Methode Electronics, Inc. (MEI: Quote) said Thursday that director nominees Walter Aspatore, Warren Batts, J. Edward Colgate, Darren Dawson, Donald Duda, Stephen Gates, Isabelle Goossen, Christopher Hornung, Paul Shelton and Lawrence Skatoff were each reelected to the company's board of directors for a further one-year term at the company's annual shareholders meeting.
The company's shareholders also ratified the re-appointment of Ernst & Young LLP as the company's independent registered public accounting firm and approved, with over 97% consent, executive compensation on an advisory basis.
The company also said that Batts decided not to stand for the position of chairman of the board but will remain a director. The company's board of directors has named Aspatore as the new chairman of the board effective immediately.
Additionally, Methode declared a quarterly dividend of $0.07 per share to be paid on October 26 to common stockholders of record on October 12.
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by RTT Staff Writer
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