Gaming firm International Game Technology (IGT) Monday vouched for the re-election of the company's eight incumbent directors at its annual meeting of Shareholders on March 5, where shareholders will be asked to determine which director nominees best serve the interests of all IGT shareholders.
The company added that three of the independent directors have been targeted for replacement by the Ader / Mathewson Group, specifically Paget Alves, David Roberson and Vincent Sadusky, and that shareholders cannot use the gold card to vote for them.
However, the company asserted that these three incumbent directors are better qualified to serve the interests of shareholders than Daniel Silvers, the only Ader/Mathewson Group nominee recommended by Institutional Shareholder Services and Glass Lewis.
The company further rubbished Ader/Mathewson Group's claim that IGT's Board members lack gaming experience, saying 50 percent of the directors on the board have relevant industry experience, which places IGT's Board in the top 20 percent among gaming industry peers.
IGT further pointed out that Daniel Silvers's qualifications do not compare to those of IGT's independent directors and that his complete lack of experience managing a large business would significantly weaken IGT's Board of Directors.
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