- 7 - against her daughter-in-law Katherine and her son-in-law Damian. She stated: I am shocked that Bill’s response to a business situation is to inflict pain on my children. Does a chief executive officer have authority, and is it proper corporate policy, to exact retribution against shareholders with whom he disagrees? The Board of Directors will have to deal with the issues raised by these actions. At a July 12, 1993, annual shareholders meeting, the Hobler family elected three members of their choosing, including Ralph Lobdell, to the 7-member Maritz Inc. board of directors. That same day, at a meeting of the Maritz Inc. board of directors, Ralph Lobdell introduced three resolutions. One resolution called for reinstating Katherine in her former position with the corporation and for compensating her for lost wages and benefits, as well as “for any emotional and/or physical damages she may have suffered” as a result of her termination, in amounts to be determined by a committee of independent directors. Another resolution called for reinstating First Capitol as a supplier to Maritz Inc. and for compensating First Capitol for “lost profits on the cancelled orders * * * and any other damages (if any) it may have suffered”. The other resolution called for a committee to review the termination of the vendor/customer relationship between First Capitol and Maritz Inc., which it characterized as First Capitol’s “largest customer”, as well as the termination ofPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011