Linen management solutions provider Angelica Corporation announced that its Board of Directors formed a special independent committee for the purpose of addressing issues raised recently by the Company's largest shareholder, Steel Partners II, L.P. The special committee is comprised solely of independent, outside directors.
Members of the Board who have been appointed to serve on the special independent committee include Ronald Kruszewski, Chairman, President and Chief Executive Officer of Stifel Financial Corp, who will serve as the committee's Chairman, as well as Kelvin Westbrook, President and Chief Executive Officer of Millennium Digital Media, L.L.C., and Charles Mueller, retired Chairman and Chief Executive Officer of Ameren Corporation.
Charles W. Mueller, Director, commented, "Angelica's Board of Directors has consistently been guided by the goal of enhancing shareholder value. By forming this special committee of independent directors, the Board is, once again, demonstrating its continued commitment to that goal, as well as the Company's responsiveness to concerns voiced by our shareholders."
Angelica Corporation, traded on the New York Stock Exchange under the symbol AGL, is a leading provider of textile rental and linen management services to the U.S. healthcare market.
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