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Williams chairman and nearly half of directors quit

WilliamsThe Williams Companies, Inc., an energy company, announced that Frank T. MacInnis is stepping down as chairman of the board of directors due to personal reasons.
Mr. MacInnis is former chairman and chief executive officer of EMCOR Group, Inc. He currently serves as a director of Gilbane Inc. and ComNet Communications.

Mr. MacInnis is a 30-plus year veteran in the international construction and facilities industry, beginning in Tehran, Iran as an officer of Paris-based Spie Batignolles S.A. In 1981, he was named chairman and chief executive officer of H.C. Price Construction, a builder of large diameter oil and gas pipelines.

After serving for several years as the chairman of Comstock Group Inc., a New York-based construction group, Mr. MacInnis joined JWP, Inc. in early 1994 and successfully managed its reorganization. His qualifications include industry, financial, corporate governance, legal, operating, and compensation experience.

Mr. MacInnis received a Bachelor of Science degree in Chemistry and a Bachelor of Arts in English from The University of Alberta and is a graduate of The University of Alberta Law School located in Alberta, Canada.

Kathleen Cooper, a current director and Audit Committee member has been appointed Chairman of the Board of Directors.

Dr. Cooper has served in a wide variety of posts during her career - Under Secretary for Economic Affairs at the U.S. Commerce Department, Chief Economist for the Exxon Mobil Corporation, Executive Vice President of Security Pacific National Bank and Dean of the College of Business at the University of North Texas.

Dr. Cooper is currently chair of the National Bureau of Economic Research, director of the Williams Companies and Deutsche Bank Trust Company of the Americas, and a member of the Council on Foreign Relations.

She has held positions as president of the National Association for Business Economics and the U.S. Association for Energy Economics, chair of the American Bankers Association’s Economic Advisory Committee, and founding director of Texas Security Bank.

Dr. Cooper has a bachelor's degree in mathematics from the University of Texas at Arlington and a doctorate in economics from the University of Colorado.

Recognizing that it is in the best interests of the stockholders and the Company to concentrate on the future, the Board of Directors has thoroughly evaluated the Company’s leadership structure and determined that Alan Armstrong is the right Chief Executive Officer for Williams as the Company works to continue enhancing stockholder value.

The Company also announced that Ralph Izzo, Frank T. MacInnis, Eric W. Mandelblatt, Keith A. Meister, Steven W. Nance and Laura A. Sugg disagreed with this strategic direction of the Williams Board of Directors.

Ralph Izzo, Eric W. Mandelblatt, Keith A. Meister, Steven W. Nance and Laura A. Sugg decided, in the best interests of stockholders, resigned from the Williams Board of Directors.




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