Source: Ameron International Corp., Pasadena, Calif.
Preliminary board election results from the Ameron annual meeting indicate James Marlen will serve another three-year term as director and remain president, chief executive officer and chairman, while James Mitarotonda secures a seat incumbent director David Davenport sought to hold.
Mitarontonda is chairman of Barington Capital Group, New York, which for more than a year has challenged Marlen’s leadership, and toward the March 30 annual meeting waged a proxy campaign to secure board representation and change director terms. He has questioned financial performance throughout Ameron’s businesses, which include concrete, steel and fiberglass pipe and pole operations, plus a major ready mixed and aggregate position in Hawaii.
“Notwithstanding the recent proxy contest with Barington Capital, Ameron directors will work collaboratively in the best interest of stockholders,” said Marlen.