RCM announces new board members at stockholders meeting
Based on preliminary tabulation report from the independent inspector of elections, IVS Associates, stockholders have elected Messrs. Vizi and Ballou with votes of 64.2% and 50.5%, respectively. Messrs. Vizi and Ballou were nominated by Legion Partners Asset Management, LLC and the other members of its stockholder group which, as the beneficial holder of 13.3% of RCM’s common stock, is RCM’s largest stockholder. The one-year terms of office of the new directors will commence upon final certification of the results of the stockholder vote by IVS.
“We welcome Brad Vizi and Roger Ballou to the RCM Board and I look forward to working collaboratively with them,” said Leon Kopyt, RCM’s chairman and chief executive officer. “As we move past a contested election for representation on the RCM Board, we look forward to returning our full attention to our ongoing efforts to position RCM for long-term growth,sustainable profitability, market leadership and enhanced value for our stockholders. We are grateful to our departing directors, Robert B. Kerr and Lawrence Needleman, for their service, dedication and commitment to RCM and its Board of Directors. I am particularly grateful to Bob Kerr for his exemplary leadership as our lead independent director.”
“Roger Ballou and I are excited to join the RCM Board at a pivotal point in RCM’s history. We look forward to participating in RCM’s ongoing efforts to enhance stockholder value,” said Bradley S. Vizi. “We believe that working together with RCM’s management team, we can make a contribution to leverage RCM’s traditional strengths, while also creating significant value for all stockholders. Our recent conversations with management have been constructive and encouraging and have only validated our beliefs about the quality and character of RCM’smanagement team and the path that lies ahead. With all parties willing to work togetherconstructively and cooperatively, there is no reason that RCM cannot continue to make strong progress.”
RCM also announced that preliminary information indicates that stockholders have voted to (i) ratify the RCM Audit Committee’s selection of EisnerAmper LLP as RCM’s independent registered public accounting firm for our fiscal year ending December 28, 2013 (ii) not approve, on an advisory basis, the compensation of RCM’s named executive officers for 2012 (iii) approve, on an advisory basis, holding annual advisory votes to approve the compensation of RCM’s named executive officers and (iv) approve a non-binding stockholder proposal requesting that RCM’s Board adopt a policy that its chairman be an independent director according to the definition set forth in the NASDAQ listing standards.
These preliminary results are subject to receipt of the official confirmation by the independent inspector of elections, which is expected to be received within the next week.