Hexcel claims victory in proxy contest with OSS Capital; results are preliminary

By Lisa Kerner

Charlotte, N.C., May 8 - Hexcel Corp. said it believes its shareholders elected all of the company's nominees to the board of directors by a "substantial margin" based on proxies submitted at the annual meeting on Thursday.

None of OSS Capital Management LP's three director nominees were elected, according to a Hexcel news release.

IVS Associates will conduct the final tabulation and certification of the results, Hexcel said.

It was previously reported that OSS, a 5.5% shareholder, wanted shareholders to elect its three nominees to provide Hexcel with "a more qualified" board of directors.

OSS nominated for election to the Hexcel board Edward A. Blechschmidt, former chief executive officer of Novelis, Inc. and of Gentiva Health Services; Joachim V. Hirsch, vice president of special projects for Magna International; and Timothy D. Leuliette, former co-chairman and co-CEO of Asahi Tec Corp.

In a prior news release, OSS asked shareholders to withhold their votes for the re-election of current Hexcel directors Joel S. Beckman, Lynn Brubaker and David C. Hurley.

Hexcel is a structural materials company based in Stamford, Conn.

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