CH2M Board news
As previously announced, the Board of Directors is planning to propose an amendment to CH2M's Certificate of Incorporation at this year's Annual Meeting of Stockholders to allow retired employees of the company to be considered as an "employee director." If the amendment is approved by our stockholders, we will seek recommendations for a qualified retiree director nominee to our Board and anticipate that one of our employee directors would come from the retiree group later this year. Retirees who were full-time employees and meet (a) the "criteria for employee director candidates" set forth as Annex B to CH2M's Governance Principles and (b) additional criteria for retiree director nominees will be eligible for nomination. We expect the additional criteria for retiree director nominees to include at least the following requirements: (i) a minimum common stock ownership, (ii) retirement from the company in good standing, and (iii) that the retiree is not a current or recent employee or consultant for another company or firm that is or could be viewed as in competition with CH2M or any of its affiliates.
If the amendment is approved, it will require an existing employee director to resign from the Board in order to fill a retiree position. If the amendment is not approved, a retiree would not be appointed as an employee director.