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Dillard's Change.

Speaking of Dillard's ...

At the end of March, Peter R. Johnson told the retailer that he would not stand for re-election to the board of directors.

Johnson, who is in his 60s, is the chairman of PRJ Holdings Inc. of San Francisco. He's been on Dillard's board since 2004.

Johnson is one of the eight directors who have been directly elected by the Dillard family by virtue of their ownership of Class B stock. Only four directors are elected by commoners who own Class A shares, and you may recall that a 2008 coup attempt resulted in new faces in those four positions.

One of the new directors picked by the activist shareholders, led by Barington Capital Group's James Mitarotonda, has already left the board.

James A. Haslam III resigned in August and was replaced with former U.S. Congressman J.C. Watts, who had joined the board in 2003 and lost his seat in 2008.

Johnson's replacement will be announced in Dillard's proxy filing, which should be out this week.

Its annual shareholder meeting is scheduled for May 15.

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Title Annotation:WHISPERS
Publication:Arkansas Business
Date:Apr 12, 2010
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