Mac-Gray shareholders asked to reject two dissident nominees on May 8

By Lisa Kerner

Charlotte, N.C., April 23 - The independent members of Mac-Gray Corp.'s board of directors asked shareholders to re-elect the company's nominees - chief executive officer Stewart MacDonald and Christopher Jenny - at the annual meeting on May 8.

In a Wednesday letter, the Mac-Gray board members asked shareholders to reject dissident shareholder Fairview Capital's nominees, Scott W. Clark and Bruce C. Ginsberg, "who lack the necessary experience required to serve."

Clark is vice president, member and portfolio manager with Fairview Capital, and Ginsberg is president, CEO and a director of MooBella LLC.

Mac-Gray said Fairview Capital proposed a compromise that would include expanding the company's board by one member and eliminating one of eight existing board members, excluding MacDonald.

Fairview Capital "proposed this because other major shareholders have told them that not having Mr. MacDonald on the board is destructive," Mac-Gray said.

According to Mac-Gray, "the dissident has essentially not conceded anything in their latest proposal, and are maintaining their inflexible pursuit of two board seats."

Mac-Gray is a Waltham, Mass.-based laundry facilities management contractor.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.