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Payless stockholders pass proposals at annual meeting
28 May '07
2 min read
Stockholders of Payless ShoeSource Inc approved all four of management's proposals at the Company's annual meeting.
Stockholders re-elected three directors to the Payless Board of Directors; ratified the reappointment of Deloitte & Touche LLP as the company's independent registered public accountants for fiscal year 2007; approved the amendments to and restatement of the Payless ShoeSource Inc 2006 Stock Incentive Plan; and approved the amendments to and restatement of the Payless ShoeSource Inc.
Incentive Compensation Plan Daniel Boggan Jr, Retired Senior Vice President of the National Collegiate Association, Michael A. Weiss, former President and Chief Executive Officer of Express, a subsidiary of Limited Brands Inc, and Robert C. Wheeler, President of Hill's Pet Nutrition were re-elected to the Payless Board of Directors at the meeting.
These board members were each elected to a three-year term to expire at the Annual Meeting of Stockholders in 2010. Other board members whose terms continue are: Howard Fricke, Chairman of the Board for Payless ShoeSource Inc, and Retired Chairman of the Board, The Security Benefit Group of Companies; Matthew E. Rubel, Chief Executive Officer and President, Payless ShoeSource Inc; Mylle H. Mangum, Chief Executive Officer of IBT Enterprises, LLC; Judith K. Hofer, Retail Consultant; John F. McGovern, Partner, Aurora Capital LLC; Robert F. Moran, President and Chief Operating Officer of PetSmart, Inc.; and D. Scott Olivet, Chief Executive Officer and Director of Oakley Inc.
Mr. Michael E. Murphy retired at the end of his current term, which expired at meeting. Mr. Murphy is the Retired Vice Chairman and Chief Administrative Officer, Sara Lee Corporation. Concurrent with Mr. Murphy's retirement, the Board's size was decreased to ten directors.
Stockholders re-elected three directors to the Payless Board of Directors; ratified the reappointment of Deloitte & Touche LLP as the company's independent registered public accountants for fiscal year 2007; approved the amendments to and restatement of the Payless ShoeSource Inc 2006 Stock Incentive Plan; and approved the amendments to and restatement of the Payless ShoeSource Inc.
Incentive Compensation Plan Daniel Boggan Jr, Retired Senior Vice President of the National Collegiate Association, Michael A. Weiss, former President and Chief Executive Officer of Express, a subsidiary of Limited Brands Inc, and Robert C. Wheeler, President of Hill's Pet Nutrition were re-elected to the Payless Board of Directors at the meeting.
These board members were each elected to a three-year term to expire at the Annual Meeting of Stockholders in 2010. Other board members whose terms continue are: Howard Fricke, Chairman of the Board for Payless ShoeSource Inc, and Retired Chairman of the Board, The Security Benefit Group of Companies; Matthew E. Rubel, Chief Executive Officer and President, Payless ShoeSource Inc; Mylle H. Mangum, Chief Executive Officer of IBT Enterprises, LLC; Judith K. Hofer, Retail Consultant; John F. McGovern, Partner, Aurora Capital LLC; Robert F. Moran, President and Chief Operating Officer of PetSmart, Inc.; and D. Scott Olivet, Chief Executive Officer and Director of Oakley Inc.
Mr. Michael E. Murphy retired at the end of his current term, which expired at meeting. Mr. Murphy is the Retired Vice Chairman and Chief Administrative Officer, Sara Lee Corporation. Concurrent with Mr. Murphy's retirement, the Board's size was decreased to ten directors.
Payless ShoeSource Inc
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