NEW BRITAIN, Conn., April 26 /PRNewswire-FirstCall/ -- The Stanley
Works (NYSE: SWK) announced that, at its 163rd annual meeting of
shareowners held today, the following were the results of votes by
shareowners:
-- Eileen S. Kraus and Lawrence A. Zimmerman were elected to three-year
terms on the company's Board of Directors, each receiving the
affirmative votes of at least 54,346,987 shares, or 75% of the shares
present at the annual meeting.
-- The appointment of Ernst & Young, LLP as the company's independent
auditors for the year 2006 was approved by 69,647,088 shares, or 96% of
the shares present at the annual meeting.
-- The Stanley Works 2006 Management Incentive Compensation Plan was
approved by 57,764,270 shares, or 89% of the shares present at the
annual meeting.
-- Amendments to The Stanley Works 2001 Long-Term Incentive Plan and The
Stanley Works 1997 Long-Term Incentive Plan were approved by 55,915,331
shares, or 86% 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 44,831,665 shares, or 69%
of the shares present at the annual meeting.
John F. Lundgren, Chairman and Chief Executive Officer, chaired the
meeting and declared: "The five proposals -- to elect two directors, to
approve the appointment of E&Y as auditors, to approve The Stanley Works
2006 Management Incentive Compensation Plan, to approve certain changes to
the 1997 and 2001 Long-Term Incentive Plans and to recommend all directors
be elected annually -- were approved."
The Stanley Works, an S&P 500 company, is a leading supplier of tools
and security solutions for professional, industrial and consumer use.
Contact: Gerry Gould, Vice President, Investor Relations
(860) 827-3833; ggould@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:
Gerry Gould, Vice President, Investor
Relations, +1-860-827-3833, ggould@stanleyworks.com
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