Proxy governance supports Hexcel nominees for BoDs

25 Apr '08

2 min read

Hexcel Corporation announced that PROXY Governance Inc ("PROXY Governance"), a leading, independent voting advisory service, recommends that Hexcel shareholders vote the GOLD proxy "FOR" Hexcel's slate of highly qualified directors and not vote for the dissident directors nominated by Oscar S. Schafer & Partners II LP ("OSS").

In its report dated April 24, 2008, PROXY Governance focused its analysis on performance and strategy and concluded:

"We recommend in favor of the management nominees because we believe the company has demonstrated a compelling case that its margins are highly competitive on a product-by-product basis, has demonstrated significant progress in improving its weighted average corporate margin by improving its product and segment mix, and because the current board has a breadth of both CEO experience, which the dissident slate offers, and aerospace industry experience, which the dissident slate do not."

David Berges, Chairman of the Board of Hexcel Corporation, said, "We highly value the independent opinion of PROXY Governance and therefore it is of great significance to us that they have demonstrated their support of Hexcel's nominees for the Board.

It is very important that all shareholders send in their proxies, and we continue to ask all Hexcel shareholders to vote for the Hexcel nominees and prevent OSS from placing their hand-picked, dissident directors on our Board."

Hexcel strongly encourages shareholders to sign, date, and return the GOLD proxy card and vote FOR Joel Beckman, Lynn Brubaker and David Hurley.

Hexcel Corporation

More Hexcel Corporation News... More Textiles News - United States Of America...