John Fiedler elected to Cooper's board of directors at annual meeting
At Cooper Tire & Rubber Co.'s annual shareholders meeting held on Tuesday, Thomas Dattilo, chairman, president and CEO, welcomed new board member John Fiedler.
Fiedler worked for Goodyear Tire and Rubber Co. for 29 years and is presently chairman and CEO of BorgWarner Inc.
Also re-elected to new three-year terms as members of the board were Edsel D. Dunford and Dennis J. Gormley.
Cooper highlights for 2001 included the successful implementation of the company's strategic plan and post-acquisition restructuring, said Dattilo. "Investors are recognizing our accomplishments and our future opportunities and the improvement in our share price is beginning to reflect that."
Stockholders approved a new stock option for non-employee directors which authorizes the issuance of up to 500,000 shares of the company's common stock over its 10-year term.
A quarterly cash dividend of 10.5 cents per share on common stock was declared by the board following the annual meeting. That is Cooper's 121st consecutive quarterly dividend, the company said.