OM Group Reaches Agreement With FrontFour On Composition Of Board Of Directors

(RTTNews) - OM Group Inc. (OMG) announced it has reached an agreement with shareholder FrontFour Capital regarding the composition of its Board of Directors.

As per the terms of the agreement, OM Group will nominate two new independent directors to the 2015 slate of nominees. David Lorber, Co-Founder of FrontFour Capital Group LLC, and Joseph Gingo, Chairman of A. Schulman Inc., will join current director Carl R. Christenson on the Company's slate of nominees.

In addition, promptly following the 2015 Annual Meeting, OM Group has agreed to expand the Board by one seat, to nine members, and name Allen A. Spizzo, a business and management consultant focused on the chemicals, materials, biotechnology and pharmaceutical industries, a director of the Company with a term ending at the Company's 2016 Annual Meeting.

FrontFour has agreed to vote all of its shares in favor of each of the Company's nominees at the 2015 Annual Meeting. Under the terms of the agreement, FrontFour has also agreed to customary standstill provisions.