IGT stockholders re-elect seven board members, choose one backed by dissidents
International Game Technology stockholders re-elected seven of the slot machine giant's current board members, but also selected one nominee proposed by a dissident group of shareholders.
At the company's annual meeting in Las Vegas Tuesday, IGT announced that shareholders decided to replace board member David Roberson with Daniel Silvers, the president of Ader Investment Management of New York.
Ader Management led a two-month proxy fight in an attempt to earn three seats on IGT's board. Ader Management, which is controlled by former analyst-turned-investor Jason Ader, owns 3 percent of IGT's outstanding shares.
Two proxy advisory groups recommended IGT shareholder elect Silvers from Ader's slate of nominees, which included former IGT Chairman Charles Mathewson.
Among the board members re-elected were current IGT Chairman Phil Satre, CEO Patti Hart and former Nevada Gov. Bob Miller.