WASHINGTON, May 9, 2011 /PRNewswire/ -- The CtW Investment Group will call on National Express Group, plc (LON:NEX) to address investor concerns regarding governance failures on the Board's Nomination Committee at the Company's 10 May AGM.
In a 18 April letter citing the election contest mounted by Elliott Advisors (UK) Ltd. as evidence of these failures, CtW noted that National Express' Nomination Committee is not in compliance with the UK Corporate Governance code regarding Director independence and has been internally divided, with one Committee member having reportedly backed the dissident directors proposed by the hedge fund Elliott Advisors (UK) Ltd. The CtW Investment Group will also raise questions regarding the Committee's process for selecting new non-executive director candidates to the Board.
The CtW Investment Group's 18 April 2011 letter to the National Express board is available at: http://ctwinvestmentgroup.com/.
** Note: For additional information or comment please contact Ed Keyser at firstname.lastname@example.org or at +1-202-721-6063. **
SOURCE CtW Investment Group