By Connor Hart
GrafTech reached an agreement with Nilesh Undavia, one of the company's largest stockholders who last year launched an effort to make changes to its board.
Under the agreement, the graphite-electrode products manufacturer has appointed Sachin Shivaram to its board, it said Friday. The company will also work with Nilesh Undavia, who owns about 6.7% of GrafTech's outstanding stock, to identify a mutually-agreed-upon independent candidate to nominate to the board at its annual meeting this year.
Shivaram previously served as chief executive of Wisconsin Aluminum Foundry Co. He began his career at ArcelorMittal, a steel and mining company, and currently serves on various boards, including Lodge Manufacturing and the Green Bay Packers.
GrafTech and Undavia thanked each other for their willingness to collaborate over the past year, resulting in their corporation agreement.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 10, 2025 17:14 ET (22:14 GMT)
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