Tonernews.com, April 30, 2005. USA
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Peace declared in ‘Max shareholder rift
April 2005–Itasca (IL):OfficeMax has settled its proxy contest with shareholder K Capital over the
election of directors at its annual shareholders’ meeting next month.K
Capital, which is OfficeMax’s third largest shareholder, has agreed to withdraw
its candidate for election to the board in exchange for an OfficeMax concession
for an additional independent candidate at the end of June and to give “active
consideration in good faith” to candidates proposed by K Capital for the
position.OfficeMax’s newly-appointed president/CEO Sam Duncan said: “We
are pleased that this dispute has been resolved and that OfficeMax will be able
to spare its shareholders a costly and disruptive proxy contest.”
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