Hanover Compressor Company Stockholders Re-Elect Board of Directors; Approve 2006 Stock Incentive Plan
May 24 2006 - 3:54PM
Business Wire
Hanover Compressor Company (NYSE:HC) announced that, at its Annual
Meeting of Stockholders held in Houston on May 11, 2006,
stockholders re-elected the members of its Board of Directors;
ratified the selection of PricewaterhouseCoopers as its independent
registered public accounting firm for 2006; and, approved the
Hanover Compressor Company 2006 Stock Incentive Plan. The
retirement of Alvin V. Shoemaker, announced earlier in 2006, was
effective at the annual shareholders meeting. Gordon T. Hall,
Chairman of the Board, thanked Mr. Shoemaker for his 15 years of
dedication and service to the company. "Al was an invaluable asset
to the company when it went public in 1997," Mr. Hall told annual
meeting attendees. "Over the years, he has served on the Audit
Committee and as co-chairman of Hanover's Finance Committee. Al has
been a steadfast advocate of debt reduction, capital discipline and
capital structure simplification. During the past five years, Al,
along with the Board of Directors, supported the company in its
efforts to create "One Hanover" with a single vision. Al leaves
Hanover positioned to meet its future with confidence." Hanover's
Board of Directors is comprised of I. Jon Brumley, Ted Collins,
Jr., Margaret K. Dorman, Robert R. Furgason, Victor E. Grijalva,
Gordon T. Hall, John E. Jackson, Stephen M. Pazuk and L. Ali
Sheikh. About Hanover Compressor Company Hanover Compressor Company
(NYSE:HC) is a global market leader in full service natural gas
compression and a leading provider of service, fabrication and
equipment for oil and natural gas production, processing and
transportation applications. Hanover sells and rents this equipment
and provides complete operation and maintenance services, including
run-time guarantees for both customer-owned equipment and its fleet
of rental equipment. Founded in 1990 and a public company since
1997, Hanover's customers include both major and independent oil
and gas producers and distributors as well as national oil and gas
companies. More information can be found on the Internet
(www.hanover-co.com).
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