COLUMBIA, Md., Feb. 20, 2019 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE: GRA) today announced plans to nominate two additional directors in connection with its 2019 Annual Meeting of Stockholders. Henry (Hank) Slack, Chairman of Alico, Inc., and Kathleen (Kathy) Reiland, Global Head of Strategy and Development at Standard Industries Inc., will be added to the slate of nominees recommended by the Grace Board for election at the 2019 Annual Meeting. With the addition of two new directors, the Grace Board would expand from nine to 11 directors.

Grace’s decision to add two directors is made in collaboration with the Company’s largest shareholder, 40 North Latitude Master Fund Ltd. (“40 North”), which owns approximately 14 percent of the Company’s outstanding shares.

“We have a longstanding relationship with 40 North and appreciate their perspectives as a significant, long-term shareholder,” said Hudson La Force, President and Chief Executive Officer. “Our recent investments to accelerate growth and extend our competitive advantages are producing results, and we look forward to working with Hank and Kathy to continue to deliver value to all shareholders.”

“We are pleased to nominate Hank and Kathy to our Board,” said Christopher J. Steffen, Lead Independent Director and Chair of Grace’s Nominating and Governance Committee. “Together they bring significant industry experience and the perspectives of a CEO and a strategist to our Board.”

“Grace has leading positions in its businesses and a compelling growth strategy,” said David J. Millstone and David S. Winter, Co-Chief Executive Officers of Standard and Co-Chief Investment Officers of 40 North. “As long‐term shareholders, our significant investment in Grace reflects our confidence in the management team and the company’s growth potential. We enjoy a positive relationship with Grace and its Board, and appreciate the company’s commitment to nominate Hank and Kathy to the Board.”

In connection with today’s announcement, Grace and 40 North have entered into an agreement which will be filed as an exhibit to a Form 8-K filed with the Securities and Exchange Commission.

About Henry (Hank) Slack
Henry (Hank) Slack is Chairman of Alico, Inc. and was Executive Chairman of Alico from 2013 to 2017. From 2001 until 2010, Mr. Slack was Chairman of Terra Industries. Mr. Slack previously served as the Chief Executive Officer of Minorco SA and as a board member of SABMiller plc, Salomon Brothers and Anglo American Corporation. Mr. Slack graduated from Princeton University in 1972 with a B.A. degree in history.

About Kathleen (Kathy) Grady Reiland
Kathy Reiland is Global Head of Strategy and Development for, and a Board Member of, Standard Industries Inc. Prior to joining Standard Industries, Ms. Reiland served as a Senior Managing Director at Evercore, a global independent investment banking advisory firm. She joined Evercore shortly after its inception and, over the course of her 18-year career there, helped manage the firm’s investing and mergers and acquisitions advisory businesses and helped take Evercore public in 2006. Ms. Reiland earned her B.A. degree from Duke University and an MBA from the Tuck School of Business Administration at Dartmouth.

About Grace

Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 3,900 employees, Grace operates and/or sells to customers in over 70 countries. More information about Grace is available at grace.com.