PxPixel
West Marine board member to step down - Trade Only Today

West Marine board member to step down

Author:
Publish date:

William U. Westerfield informed West Marine that he will not seek re-election as a director at the company's 2010 annual meeting of stockholders, the company said in a statement filed with the Securities and Exchange Commission.

"Mr. Westerfield had no disagreements with West Marine's management or the board of directors on any matters relating to our operations, policies or practices," the statement reads. "Mr. Westerfield will continue to serve as a director and a member of our audit committee until the 2010 annual meeting."

West Marine said it expects the governance and compensation committee to nominate Barbara Rambo to become a member of the board of directors.

Rambo served as an advisor to the board of directors from September 2008 to Nov. 6, 2009. She previously served as vice chair of Nietech Corporation, a payments technology company, from October 2006 to October 2009 and served as president and chief executive officer of Nietech from November 2002 until October 2006.

Prior to joining Nietech, Rambo served as chairman of the board of directors of OpenClose Technologies, a financial services company, from July 2001 to December 2001, as president and chief executive officer of OpenClose Technologies from January 2000 to June 2001, and as a director from January 2000 through March 2002.

Previously, Rambo held several executive positions with Bank of America, most recently as group executive vice president and head of national commercial banking.

Rambo is a director of Pacific Gas and Electric Company and PG&E Corporation. She is also a director of UnionBanCal Corporation, the holding company of Union Bank of California. Rambo holds an MBA in finance from New York University and a bachelor's degree in international affairs from the College of William and Mary.

Related