TOLEDO, Ohio, Oct. 24 /PRNewswire-FirstCall/ -- Owens-Illinois, Inc., (NYSE: OI) today announced that its Board of Directors has amended the company's corporate governance guidelines to include a provision that any nominee for director in an uncontested election who receives more withheld votes than affirmative votes must submit his or her resignation for consideration by the Nominating/Corporate Governance Committee. In turn, the committee will consider the resignation and make a recommendation to the Board on the actions to be taken with respect to such offer of resignation.
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"We have a highly capable, energetic and diverse group of directors representing our shareholders. The outcome of this decision ultimately gives our shareholders a greater voice in the process of selecting our Board of Directors and is a reflection of O-I's commitment to an ongoing transparent approach to corporate governance," said Steve McCracken, O-I Chairman and CEO.
O-I's Board currently consists of ten members including three new members named this year.
About O-I
Millions of times a day, O-I glass containers, healthcare packaging and specialty closure systems deliver many of the world's best-known consumer products to people all around the world. With leading positions in Europe, North America, Asia Pacific and South America, O-I provides consumer-preferred products that enable superior taste, purity, visual appeal and value benefits for our customers' products. Established in 1903, the company employs nearly 30,000 people and has more than 100 manufacturing facilities in 23 countries. In 2004, annual revenues were $6.2 billion. For more information, visit http://www.o-i.com.
SOURCE Owens-Illinois, Inc.
-0- 10/24/2005
/NOTE TO EDITORS: Copies of Owens-Illinois news releases are available at
the Owens-Illinois web site at www.o-i.com or at
http://www.prnewswire.com/gh/cnoc/comp/117254.html . To contact Owens-Illinois
investor relations, dial 419-247-2400./
/CONTACT: Kelley Yoder of O-I, +1-419-247-1388/
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/Web site: http://www.O-I.com/
(OI)
CO: Owens-Illinois, Inc.; O-I
ST: Ohio
IN: HOU
SU:
JS-XX
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9089 10/24/2005 17:01 EDT http://www.prnewswire.com