Ensco plc (ESV) announced that in its annual general meeting, its shareholders elected two new directors to the board of directors of the company and passed special resolutions authorizing $2 billion in share repurchases and declassifying the board.
The new board members are Roxanne Decyk, former Executive Vice President of Global Government Relations for Royal Dutch Shell plc, and Mary Francis CBE, Senior Independent Director of Centrica plc and a former senior civil servant in the British Treasury and Prime Minister's Office.
Decyk and Francis replace two retiring board members: Thomas (Tad) Kelly, who has been a member of the Ensco board of directors since 1987; and Rita Rodriguez, who joined the board in 2003.
Decyk retired as Executive Vice President of Global Government Relations for Royal Dutch Shell plc, where she also held senior-level positions in Corporate Affairs, Human Resources and Corporate Strategy. Decyk serves as a Director of Alliant Techsystems Inc. and Petrofac Limited.
Francis is a former senior civil servant in the British Treasury and the Prime Minister's office and also served as Director General of the Association of British Insurers. She is currently Senior Independent Director of Centrica plc, an integrated energy company, and a director of Swiss Re Group.
The company said that Shareholders passed a special resolution authorizing the company to repurchase up to $2 billion of the company's issued Class A ordinary shares. This authorization replaces a previous share purchase agreement that expired with the conversion last year of Ensco's American Depository Shares to Class A ordinary shares.
Shareholders also passed a special resolution to eliminate staggered three-year term classes for board members. The term of all directors will now be one year.
Ensco announced that its Board of Directors has declared a regular quarterly cash dividend of US$0.50 per Class A ordinary share payable on 21 June 2013 to holders of Ensco's shares as of the 10 June 2013 record date.
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