Tenneco Inc. (NYSE: TEN) announced at its annual stockholders’ meeting today that the company’s stockholders have elected SungHwan Cho, Thomas C. Freyman, Denise Gray, Brian J. Kesseler, Dennis J. Letham, James S. Metcalf, Roger B. Porter, David B. Price, Jr., Gregg M. Sherrill, Jane L. Warner and Roger J. Wood to the company’s board of directors. The directors have been elected to serve a term expiring at the 2020 annual meeting of stockholders.
In addition, stockholders ratified the appointment of PricewaterhouseCoopers LLP as the company’s independent auditors for 2019 and, in an advisory vote, approved the company’s executive compensation.
The company also announced that its board of directors has suspended its quarterly dividend beginning in the second quarter of 2019, consistent with the company’s capital allocation priorities, including reducing leverage. Post spin-off, the boards of directors of each independent company will determine the capital allocation priorities that are best suited to their respective businesses.
SOURCE: Tenneco
