July 10, 2018
Range Resources has a new agreement with 17% shareowner SailingStone Capital Partners LLC to appoint two independent directors to the Range board.
Once approved, the two will be up for immediate appointment to the board and would stand for election at the corporation’s 2019 stockholder meeting.
The two new board members, mutually okayed by Ft. Worth-based Range and San Francisco-based SailingStone, have not been identified.
And the two sides have agreed to reduce the size of the board from 10 to nine members by the 2019 meeting, to begin an immediate search for an executive vice president, and to separate the posts of chairman and CEO, with the board appointing Greg Maxwell, an independent director, to the position of chairman of the board.