Houston Wire & Cable Company Provides Update on Governance, Executive Goals and Compensation, and Cost and Debt Reduction
HOUSTON WIRE & CABLE (HWCC)
Last houston wire & cable earnings: 11/9 07:30 am
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houwire.com
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Source: GlobeNewswire
HOUSTON, April 29, 2020 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (NASDAQ: HWCC) today provided an update on developments regarding its governance, executive goals and compensation, and cost and debt reduction measures. Governance: HWCC highlights recent and upcoming changes in board governance: As previously reported, the board elected the company’s largest shareholder, David Nierenberg of the D3 Family Funds, as a director on March 16, 2020. Nierenberg and his partner, Damon Benedict (an HWCC board observer), are helping the company navigate its response to the coronavirus pandemic and the global imbalance between the supply and demand for oil. Board Chair Bill Sheffield informed the board on April 28 that he would not stand for re-election in May, 2021. The board expects that Gary Yetman will succeed Sheffield as chairman, because of Yetman’s extensive experience as CEO of an industrial and commercial cable manufacturer. To smooth this succession, Yetman is expected to
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