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4-Traders Homepage  >  Equities  >  Nyse  >  Williams Companies Inc    WMB

Delayed Quote. Delayed  - 08/30 04:45:46 pm
27.97 USD   -0.32%
08:49aDJWILLIAMS : Appoints Three New Directors -- WSJ
08/29DJWILLIAMS : Adds Three New Directors Ahead of Proxy Battle
08/29DJWilliams Adds Three New Directors
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Williams : Appoints Three New Directors -- WSJ

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08/30/2016 | 08:49am CEST
By Joshua Jamerson 

Williams Cos. made good on its plan to appoint three new independent directors to its board as activist investor Keith Meister has said he plans to remove the entire board this fall.

The company added Stephen Bergstrom, Scott Sheffield and William Spence, effective immediately.

The embattled natural-gas pipeline operator said earlier this month that it would add three new independent directors after nearly half its board, Mr. Meister and five others, had quit in June. The additions bring the board to 10 members -- nine of whom are independent -- down from 13 this summer. All 10 board members will stand for election by shareholders at the annual meeting Nov. 23.

In the coming weeks, Mr. Meister's Corvex Management LP will seek nominees and plans to identify a new board before shareholders vote. Last week, before Williams named the three new directors, Mr. Meister said he would be willing to consider them, depending on their qualifications.

A representative for Corvex couldn't immediately be reached for comment Monday.

Mr. Bergstrom is a director on the board of energy firm American Midstream Partners, and Mr. Spence is chairman and chief executive of PPL Corp. Mr. Sheffield has been chief executive of Pioneer Natural Resources Co. since 1997 and became chairman in 1999.

The abrupt board shake-up this summer followed a failed attempt to unseat Chief Executive Alan Armstrong following the failed merger with rival Energy Transfer Equity LP.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

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08:49aDJWILLIAMS : Appoints Three New Directors -- WSJ
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Financials ($)
Sales 2016 7 155 M
EBIT 2016 1 776 M
Net income 2016 528 M
Debt 2016 25 161 M
Yield 2016 6,75%
P/E ratio 2016 35,08
P/E ratio 2017 19,38
EV / Sales 2016 6,46x
EV / Sales 2017 6,31x
Capitalization 21 063 M
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TrendsBullishBullishNeutral
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 27,7 $
Spread / Average Target -1,4%
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Managers
NameTitle
Alan S. Armstrong President, Chief Executive Officer & Director
Kathleen B. Cooper Chairman
Donald R. Chappel Chief Financial Officer & Senior Vice President
Janice D. Stoney Independent Director
Juanita H. Hinshaw Independent Director
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Sector and Competitors
1st jan.Capitalization (M$)
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