Summary
Freeport-McMoRan Inc. (FCX) has reported the resignation of Andrew Langham from its Board of Directors, effective March 5, 2018. Mr. Langham's appointment to the board was a result of a Nomination and Standstill Agreement with the "Icahn Group," which included Carl C. Icahn, related entities, and individuals. This departure is in accordance with the terms of the aforementioned agreement, triggered by a reduction in the Icahn Group's ownership stake in the company. Importantly, the company states that Mr. Langham's resignation was not due to any disagreements concerning the company's operations, policies, or practices.
Key Highlights
- 1Andrew Langham has resigned from the FCX Board of Directors.
- 2The resignation was effective March 5, 2018.
- 3Mr. Langham's board seat was initially established through a Nomination and Standstill Agreement with the Icahn Group.
- 4The resignation occurred because the Icahn Group's ownership in FCX decreased.
- 5The departure complies with the terms of the Nomination and Standstill Agreement.
- 6The company explicitly stated no disagreements with Mr. Langham regarding operations, policies, or practices.