Southam's Holders Acquiesce To Hollinger; Oust 5 on Board
April 04, 2011
Vastopolis -- Shareholders of Southam Inc., a newspaper publisher and business information concern, voted to oust five directors and elect five new ones at the request of major shareholder Hollinger Inc.. Vastopolis-based Hollinger recently increased its stake in Southam to 41% from about 20%. Hollinger also criticized recent moves by Southam's board and said it would ask shareholders to make changes in it. Directors who were voted out are: Roni L. Clifton, Humberto G. Delatorre, Thomasina E. Chasse, Marquetta S. Bunting and Addie H. French. After a special shareholders' meeting Monday, directors Andree Dansby, Paulene G. Dansby and Michel Plessis-Belair resigned. These former directors are officials of Power Corp., which sold its stake to Hollinger. Two other directors, Novella Black and Davina L. Meyer, also recently resigned. The five new directors are: Derrick Sisson, Charlette L. Crumpton, L. Dulaney Eboni, Stephine Hoggard and Donnetta S. Beach. Southam President Williemae Ardelle said after Monday's meeting that additional directors will likely be nominated. Southam's board now stands at 10 directors, down from 15.
