LITTLE ROCK, Ark. - Windstream Corp. (NYSE:WIN, news, filings) today announced preliminary voting results from the company’s annual meeting of stockholders held earlier this morning at the Capital Hotel in Little Rock.
The company also recognized Frank Reed during the meeting for his service on the company’s board of directors. Reed has served as director since 2006 and chaired the board’s audit committee. He served on the Alltel Corp. board of directors from 1998 to 2005. The meeting was Reed’s last as a Windstream director after reaching the mandatory retirement age for directors under the company’s corporate governance guidelines.
“Windstream stockholders and the board of directors have benefited greatly from Frank Reed's service on our board,” said Jeff Gardner, president and chief executive officer. “Frank added instant credibility when we formed Windstream because of his background as a successful executive in the financial services industry and as an experienced director of public companies. He has been a valued adviser to the board and to me personally as CEO. He ably led our audit committee over the past four years and played a key role in creating a culture of openness among the Windstream directors. He will be missed, and we wish Frank and his wife, Ann, all the best.”
“I have been closely associated with Frank Reed for 17 years. During that time he was instrumental in the formation, growth and oversight of 360° Communications. Frank offered guidance and advice that greatly aided the rapid growth and success of that corporation,” said Dennis Foster, chairman of the board. “His continued service on the Alltel board aided greatly to the success of the merged company. And as a director of Windstream, Frank once again helped forge a new company into a successful one. Personally, Frank has been my leader, my mentor, and best of all a very trusted friend who more than once kept me on the right track.”
The board elected Jeff Hinson to succeed Reed as chairman of the audit committee.
Based on preliminary results of shares voted at the meeting, stockholders:
- re-elected all eight members of the board of directors to serve until the 2011 annual meeting;
- affirmed the company’s executive compensation policies by a vote of 93 percent in favor and 7 percent against;
- approved an amended management equity incentive plan by a vote of 76 percent in favor and 24 percent against;
- ratified PricewaterhouseCoopers LLP as the company’s independent auditor by a vote of 99 percent in favor and 1 percent against; and
- defeated a stockholder proposal requiring executives to hold equity awards until retirement by a vote of 73 percent against to 27 percent in favor.
Final voting results are subject to audit and verification by Windstream’s transfer agent, Computershare Trust Company, N.A.
Windstream Corp. (NASDAQ: WIN), headquartered in Little Rock, Ark., is an S&P 500 company with communications operations in 21 states and about $3.7 billion in annual revenues. Windstream provides phone, high-speed Internet and high-definition digital TV services. The company also offers a wide range of IP-based voice and data services and advanced phone systems and equipment to businesses and government agencies. For more information about Windstream, visit www.windstream.com.
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