SIOUX CITY, Iowa, March 12 /PRNewswire-FirstCall/ -- Terra Industries Inc.
(NYSE: TRA) announces the nomination of Dod A. Fraser, President, Sackett
Partners Incorporated, to its board of directors. Fraser's nomination
coincides with the planned retirement of five current board members. These
changes will allow Terra to reduce the size of its board and begin positioning
itself to comply with director independence requirements anticipated from the
New York Stock Exchange.
Fraser earned an AB degree from Princeton University in 1972. He spent
the next 27 years in investment banking, including service in various
positions for Bankers Trust Company; Lehman Brothers, Inc.; Lazard Freres &
Co. and Chase Securities Inc. After retiring from investment banking in 2000,
he established Sackett Partners Incorporated, which provides consulting
services to not-for-profit entities and focuses on educational and cultural
institutions.
Fraser serves on the board and chairs the audit committee of Forest Oil
Corporation, a Denver-based independent oil and gas exploration and production
company. He is also a trustee for The Lawrenceville School, an independent
boarding school in New Jersey; the Hurricane Island Outward Bound School; and
Resources for the Future, an environmental policy think tank.
Fraser and his wife, Susan, live in Westchester County, New York. They
have three children, ages 16, 19 and 22.
"We are delighted to nominate Dod Fraser to Terra's board of directors,"
said board chairman Hank Slack. "We look forward to Terra benefiting from his
keen insight. He is an outstanding individual with a great deal of relevant
experience."
Fraser will be one of seven nominees to Terra's board of directors at its
May 6, 2003, annual meeting. Terra's board will consist of seven members as
of that date.
Terra Industries Inc., with 2002 revenues of $1 billion, is a leading
international producer of nitrogen products and methanol.
Note: Terra Industries' news announcements are also available on its web
site, http://www.terraindustries.com .
SOURCE Terra Industries Inc.
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