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New York Times names two nominees for election to its board of directors
By Lisa Kerner
Charlotte, N.C., Feb. 12 - The New York Times Co. said Robert Denham and Dawn Lepore have agreed to stand as nominees for election to the company's board of directors at the 2008 annual meeting of stockholders on April 22.
Denham is a partner in the law firm of Munger, Tolles & Olson LLP, and Lepore is the chairman and chief executive officer of drugstore.com, inc.
"The skills, expertise and leadership qualities of these two nominees will greatly benefit our company during this time of tremendous change in the media world," New York Times chairman Arthur Sulzberger Jr. said.
Sulzberger cited Denham's "stellar financial and legal experience" and Lepore's "deep experience in the digital sphere."
Directors Brenda Barnes and James Kilts will not be standing for re-election, a company news release stated. Later this month, the New York Times will announce the complete slate of directors to be voted on by the class A and class B shareholders.
On Feb. 11, Harbinger Capital Partners Funds and Firebrand Investments, LLC notified the company of their intent to nominate Scott Galloway, James A. Kohlberg, Allen L. Morgan and Gregory Shove for election to the New York Times' board.
Harbinger, some of the nominees and representatives of Firebrand met with the New York Times on Feb. 8 to discuss the nominations, according to a schedule 13D filing with the Securities and Exchange Commission.
Between Dec. 21 and Feb. 8, the investors purchased 14.25 million shares of New York Times stock priced from $14.32 to $17.72 per share for an initial stake of 9.6% in the New York-based diversified media company.
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