TORONTO, April 29, 2020 (GLOBE NEWSWIRE) -- Shawcor Ltd. (TSX:SCL) announced today that, for personal reasons, including in light of the COVID-19 pandemic and its effects, Donald Wishart and John Baldwin have advised the Company that they do not intend to stand for re-election as directors at the upcoming Annual Meeting of Shareholders, currently scheduled for May 13, 2020. Accordingly, their candidacies will not be voted on at the Meeting. As Mr. Wishart is currently the Chair of Shawcor, a new Chair will need to be appointed. At this time, it is anticipated that Derek Blackwood, a current director, will be appointed as the Chair following the Meeting. The Board will continue to review optimal Board size, skills and cost structure to ensure alignment with the forecasted business outlook and the Company’s requirements.
Shawcor Ltd. is a global company serving various sectors of the Infrastructure, Energy and Transportation markets through three reporting segments: Pipeline and Pipe Services, Composite Systems and Automotive and Industrial. The Company operates through a global network of fixed and mobile manufacturing and service facilities and is valued for its integrity, technology and proven capability to execute the most complex projects in its industry.
For further information:
Shawcor Ltd.
Paul Pierroz
Senior Vice President, Corporate and Investor Relations
Tel: 416-744-5540
Email: paul.pierroz@shawcor.com
Website: www.shawcor.com
Source: Shawcor Ltd.