4 Directors Resign From Armstrong World Board
Stock quotes in this article:
AWI
LANCASTER, Pa. (AP) — Armstrong World Industries Inc. said Tuesday that four of its board members are resigning.
The resignations of Robert Garland, Russell Peppet, Arthur Pergament and Alexander Sanders Jr. are effective by Sept. 11. The flooring products maker said the members are resigning to allow the board to appoint four new directors — two designated by Armor TPG Holdings and two by a settlement trust for the company. The new appointments are part of a recent shareholder's agreement. TPG, a private equity group formerly known as Texas Pacific Group, agreed this month to take at least a 14 percent stake in Armstrong. Shares of Armstrong fell $3.76, or 11.3 percent, to close at $29.65 Tuesday.- Loading Comments...
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