GrafTech Disagrees With ISS Report, Asks Shareholders To Vote For Seven Nominees

(RTTNews) - GrafTech International Ltd. (GTI), a manufacturer of graphite electrodes, Monday said it strongly disagrees with the report by Institutional Shareholder Services or ISS, relating to the election of GrafTech's seven nominees to its Board of Directors.

The company further reiterated Glass Lewis' recommendation that stockholders vote for all GrafTech nominees, and urged its stockholders to vote on the WHITE Proxy Card Today.

The nominees would be elected at the Company's May 15 Annual Meeting of Stockholders.

GrafTech noted that ISS's conclusion not to recommend the election of the seven director nominees demonstrates a complete disregard for both the results of an independent investigation and for its own standards of ethical conduct and corporate governance.

Moreover, it is clear that ISS does not fully grasp the long-term negative impact that the Milikowsky Group's market-share focused commodity pricing strategy would have on GrafTech's margins and how severely it could erode stockholder value, the company said.