Proxy advisor Glass Lewis backs SilverBow nominees in Kimmeridge board spat

SilverBow Resources

09/05/2024 14:26

By David French
       May 9 (Reuters) - Proxy advisor Glass Lewis on Thursday
recommended shareholders of SilverBow Resources  SBOW.N  vote
for the company's board nominees, and withhold support for
directors backed by activist investment firm Kimmeridge Energy
Management.
    Kimmeridge, the largest shareholder in SilverBow, is aiming
to seat three new independent directors at the oil and gas
producer's annual shareholder meeting on May 21, charging the
company needs to revamp its governance and improve performance.
    However, Glass Lewis said it recommended backing the three
director nominees submitted by SilverBow, and shareholders
should withhold votes for the Kimmeridge-supported nominees,
according to a copy of its report seen by Reuters.
    

 (Reporting by David French in New York; Editing by Chizu
Nomiyama)
 ((davidj.french@thomsonreuters.com;))