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Ferro changes board structure, appoints president to chairman

9:37 AM MST | February 24, 2014 | Vincent Valk

Ferro announced today that it is altering the structure of its board of directors, “declassifying,” or eliminating staggered terms, for directors, and eliminating cumulative voting. The board also will appoint Peter Thomas, current president and CEO of Ferro, chairman of the board of directors, replacing Bill Lawrence. New Ferro directors, starting with those elected this year, will serve one-year terms. Current directors on three-year terms, which expire in 2015 and 2016, will be allowed to serve out their terms, however. Ferro has also eliminated...

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