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Mullen Group Ltd. Announces Rejection of Director Resignation
Mullen Group Ltd. Announces Rejection of Director Resignation Canada NewsWire ...
About this update from Mullen Group Ltd.
[{"type":"text","content":"\n \n \n \n Mullen Group Ltd. Announces Rejection of Director Resignation\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n OKOTOKS, AB\n \n \n ,\n \n \n May 12, 2023\n \n \n /CNW/ - (TSX: MTL)  Further to the news release dated\n \n May 4, 2023\n \n , Mullen Group Ltd. (\"\n \n Mullen Group\n \n \" and/or the \"\n \n Corporation\n \n \") announced today that the Board of Directors of the Corporation (the \"\n \n Board\n \n \") will not accept the resignation of\n \n Sonia Tibbatts\n \n as a director of the Corporation.\n \n \n At the annual meeting of shareholders of the Corporation held on\n \n May 3, 2023\n \n , eight nominees including Ms. Tibbatts were elected as directors of the Corporation, however, Ms. Tibbatts did not receive the requisite majority of votes cast in respect of her election.  In accordance with the Corporation's majority voting policy (the \"\n \n Policy\n \n \"), she tendered her resignation for consideration by the Compensation, Nomination and Governance Committee (the \"\n \n CNG Committee\n \n \") of the Board.\n \n \n The CNG Committee considered the factors it deemed relevant in respect of her resignation and made a recommendation to the Board to reject the resignation.  After consideration of the recommendation of the CNG Committee as well as further evaluation of all of the factors the Board deems relevant, the Board has determined that there are exceptional circumstances that warrant the Board not to accept the resignation of Ms. Tibbatts.  As a result, Ms. Tibbatts will continue to serve as a director of the Corporation until the close of the next annual meeting of shareholders of the Corporation, or until her successor is elected or appointed.\n \n \n A key factor taken into account by the Board in reaching their determination included the fact that the primary cause for the withhold votes cast against Ms. Tibbatts was that certain shareholders advisory groups recommended against her election because she is the Chair of the CNG Committee and the Board is comprised of less...