LOCAL : Lockheed Claims Victory
From Times Wire Services
Lockheed Corp. announced today that preliminary results show it won its proxy fight against Texas investor Harold Simmons, with about 62% support for the slate of 14 incumbent directors.
“While the results are not yet official, we are confident that the final outcome will confirm the preliminary tally,” said Daniel Tellep, chairman and chief executive officer of the aerospace giant.
Simmons, who owns nearly 19% of Lockheed stock, had initiated the proxy fight after Tellep denied his request for six seats on the board.
Lockheed issued its statement today after Simmons disclosed in an announcement that the incumbent board had received between 58% and 61% of the votes at the meeting.
