STEEL PARTNERS HOLDINGS L.P. (NYSE:SPLP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 13, 2018, Allan R. Tessler, a director of Steel Partners Holdings GP Inc., the general partner to Steel Partners Holdings L.P. (the "Company"), and a member of the Corporate Governance and Nominating Committee of the Board of Directors of the Company (the "Board"), formally notified the Board that he does not intend to stand for re-election to the Board at the Annual Meeting of Limited Partners to be held on May 24, 2018 (the "Annual Meeting"), and that he will retire from the Board effective as of the date of the Annual Meeting. Mr. Tessler's decision not to stand for re-election to the Board related solely to his decision to retire and did not involve any disagreement with the Company on any matter relating to its operations, policies or practices.
Following the Annual Meeting, there will be a vacancy on the Board which the Company intends to fill through a robust and comprehensive search process. It is also anticipated that any new independent director would become a member of the Corporate Governance and Nominating Committee after his or her election.
About STEEL PARTNERS HOLDINGS L.P. (NYSE:SPLP)
Steel Partners Holdings L.P. (SPLP) is a diversified holding company that engages in multiple businesses through consolidated subsidiaries, associated companies and other interests. The Company owns and operates businesses, and has investments in companies, in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking and youth sports. The Company’s segments are Diversified Industrial, Energy, Financial Services, and Corporate and Other. The Diversified Industrial segment consists of its Handy & Harman Ltd. (HNH) and WebFinancial Holding LLC (WFH LLC). The Company’s Energy Segment includes the operations of Steel Excel, Inc. (Steel Excel). The Financial Services segment consists of the Company’s subsidiary, WebFinancial Corporation (WFHC), which conducts financial operations through its subsidiary, WebBank, and WF Asset Corp. STEEL PARTNERS HOLDINGS L.P. (NYSE:SPLP) Recent Trading Information
STEEL PARTNERS HOLDINGS L.P. (NYSE:SPLP) closed its last trading session down -0.05 at 17.65 with shares trading hands.