The Board engaged with many of the Company's stockholders over the course of the proxy solicitation period, including Mr. Casey during the settlement negotiations, and came to better understand certain stockholder concerns. Notably, in response to such stockholder sentiment, the Board has determined to take the following actions:
- The Board will accept the decision of Edward Levy, a long-standing director and director nominee, to not stand for reelection at the Annual Meeting;
- The Board will disband its Strategic Planning and Finance Committee;
- As previously disclosed, the Company will not renew the New York City office agreement with Hyde Park Real Estate LLC upon its expiration in February 2016; and
- The Board will evaluate its standing committee composition and consider the appointment of additional directors, including Mr. Keddie and/or Mr. Climaco to the extent they are qualified, to each of such committees.
Essex's Annual MeetingIn addition to attending the Annual Meeting and voting in person, stockholders may exercise their rights as stockholders to vote for nominees for director at the Annual Meeting, by signing, dating and returning the WHITE proxy card included with the Company's proxy statement mailed to stockholders on or about April 30, 2015 or by signing, dating and returning the GOLD proxy card distributed by Mr. Keddie and Mr. Casey. The Company's Proxy Statement and our 2014 Annual Report on Form 10-K to Stockholders are available at: http://www.viewproxy.com/essexrental/2015 About Essex Rental Corp. Essex, through its subsidiaries, is one of North America's largest providers of rental and distribution for mobile cranes (including lattice-boom crawler cranes, truck cranes and rough terrain cranes), self-erecting cranes, stationary tower cranes, elevators and hoists, and other lifting equipment used in a wide array of construction projects. In addition, the Company provides product support including installation, maintenance, repair, and parts and services for equipment provided and other equipment used by its construction industry customers. With a large fleet, consisting primarily of cranes, as well as other construction equipment and unparalleled customer service and support, Essex supplies a wide variety of innovative lifting solutions for construction projects related to power generation, petro-chemical, refineries, water treatment and purification, bridges, highways, hospitals, shipbuilding, offshore oil fabrication and industrial plants, and commercial and residential construction.