Methode Electronics Inc. (MEI) announced voting results from the company's annual shareholders meeting held on September 13, 2012. The director nominees Walter Aspatore, Warren Batts, Edward Colgate, Darren Dawson, Donald Duda, Stephen Gates, Isabelle Goossen, Christopher Hornung, Paul Shelton and Lawrence Skatoff were each reelected to Methode's board of directors for a further one-year term.
Additionally, the company's shareholders ratified the re-appointment of Ernst & Young LLP as the Company's independent registered public accounting firm and approved, with over 97 percent consent, executive compensation on an advisory basis.
Methode also announced that Batts decided not to stand for the position of chairman of the board but will remain a director.
The company's board has named Aspatore as the new chairman of the board effective immediately. Aspatore became a director in 2008 and has served as chairman emeritus of Amherst Partners, LLC since 2010. Previously, he was chairman of Amherst Partners from 1994 through 2010. Before co-founding Amherst Partners, he served in various executive positions at Bendix, TRW, and Cross & Trecker. Aspatore also serves as a director of Mackinac Financial Corporation, a bank holding company.
Methode's board has declared a quarterly dividend of $0.07 per share to be paid on October 26, 2012, to common stockholders of record at the close of business on October 12, 2012.
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