With WilliamsCos. Inc. focused on reshaping its board, three members havevolunteered not to stand forre-election at the company's annual meeting scheduled for Nov. 23.
Joseph Cleveland, former chief information officer atLockheed MartinCorp.; John Hagg, former senior executive in various sectors of thepetroleum industry in Canada and the U.S.; and Juanita Hinshaw, who serves aspresident of a consulting firm, will end their terms as board members inNovember.
Four of the current directors who have served before 2016will join Stephen Bergstrom, Stephen Chazen, Peter Ragauss, Scott Sheffield andWilliam Spence as candidates to stand for election on the annual meeting.
The board also expects to name two more independentcandidates, which brings the total number of board members up to 11, with 10independent members.
The addition of Chazen and Ragauss prompted activistinvestor Keith Meister to withdraw his proxy contest to replace Williams' board with his ownnominees.