NEW BRITAIN, Conn., April 23 /PRNewswire-FirstCall/ -- The Stanley
Works (NYSE: SWK) announced, at its 165th annual meeting of shareowners
held today, the following results of votes by shareowners:
-- Carlos M. Cardoso was elected to a three-year term on the company's
Board of Directors, receiving the affirmative votes of 67,517,354
shares, or 96.1% of the shares present at the annual meeting. Mr.
Cardoso, Chairman of the Board, President and Chief Executive Officer
of Kennametal, Inc. has served on The Stanley Works' Board of Directors
since October, 2007.
-- Robert B. Coutts was elected to a three-year term on the company's
Board of Directors, receiving the affirmative votes of 67,672,399
shares, or 96.3% of the shares present at the annual meeting. Mr.
Coutts, retired Executive Vice President of the Lockheed Martin
Corporation, has served on The Stanley Works' Board of Directors since
July, 2007.
-- Marianne Miller Parrs was elected to a three-year term on the company's
Board of Directors, receiving the affirmative votes of 67,906,587
shares, or 96.6% of the shares present at the annual meeting. Ms.
Parrs, retired Executive Vice President and Chief Financial Officer of
International Paper Company is a newly-elected member of the Stanley
Works Board of Directors.
-- The appointment of Ernst & Young, LLP as the company's independent
auditors for the year 2008 was approved by 67,326,812 shares, or 95.8%
of the shares present at the annual meeting.
-- A shareowner proposal urging the company's Board of Directors to take
the necessary steps to require that all members of the Board of
Directors be elected annually was approved by 48,802,657 shares, or
76.1% of the shares present at the annual meeting.
John F. Lundgren, Chairman and Chief Executive Officer, chaired the
meeting and declared: "The three proposals -- to elect three directors, to
approve the appointment of E&Y as auditors for 2008 and to recommend all
directors be elected annually -- were approved."
The Stanley Works, an S&P 500 company, is a diversified worldwide
supplier of tools and engineered solutions for professional, industrial,
construction and do-it-yourself use, and security solutions for commercial
applications.
Contact: Greg Waybright, Interim VP, Investor Relations
(860) 827-3544; gwaybright@stanleyworks.com
The Stanley Works corporate press releases are available under
Financial News in the Investor Relations section of the company's corporate
web site at http://www.stanleyworks.com.
SOURCE The Stanley Works
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Related links:
http://www.StanleyWorks.com
http://www.prnewswire.com/comp/874363.html/
CONTACT:
Greg Waybright, Interim VP, Investor
Relations, The Stanley Works, +1-860-827-3544,
gwaybright@stanleyworks.com
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