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Otter Tail Corporation held its 108th Annual Meeting of Shareholders

Former CMS Energy Executive Vice President and CFO Thomas J. Webb elected to Board of Directors

/EIN News/ -- FERGUS FALLS, Minn., April 09, 2018 (GLOBE NEWSWIRE) -- Otter Tail Corporation (NASDAQ:OTTR) hosted 228 shareholders and guests at its annual meeting of common shareholders on April 9 in Fergus Falls, Minnesota. This was the corporation’s 108th annual meeting. Represented by proxy or present in person at the meeting was 83 percent of the corporation’s total shares outstanding.

Shareholders reelected Karen Bohn and Charles MacFarlane to serve three-year terms on Otter Tail Corporation’s board of directors. Bohn, Edina, Minnesota, has been a director since 2003 and is president of Galeo Group, LLC, a management consulting firm. Bohn serves as the Chair of the Corporate Governance Committee and is a member of the Audit Committee.  MacFarlane, Fergus Falls, Minnesota, has been a director since 2015 and is Otter Tail Corporation’s president and CEO.

Shareholders elected Thomas J. Webb, Richland, Michigan, to the position opened by Joyce Nelson Schuette, who did not seek reelection after long-standing board service.

Webb served as the executive vice president and chief financial officer, and vice chairman, of CMS Energy Corporation, the parent organization of Consumers Energy, one of the nation’s largest combination electric and natural gas utilities. He retired from those roles in 2017. Webb also spent more than 15 years as chairman of the board for EnerBank USA, another CMS Energy subsidiary, and continues to serve in that role. His work experience includes serving as chief financial officer for both Kellogg Company and Visteon Corporation, as well as various financial positions at Ford Motor Company.

“We will miss Joyce and the keen financial perspective she brought to us from her career in investment banking,” said Nathan Partain, Otter Tail Corporation’s Board Chair. “At the same time, we welcome Tom to the board and look forward to his insight. He will provide us with the benefit of his extensive utility and corporate accounting, finance, and financial reporting expertise.”  Webb will serve on the Audit and Compensation Committees of the Board.

Thomas Webb’s photo is available at www.ottertail.com

About Otter Tail Corporation
Otter Tail Corporation has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the NASDAQ Global Select Market under the symbol OTTR. The latest investor and corporate information is available at www.ottertail.com. Corporate offices are located in Fergus Falls, Minn., and Fargo, N.D.

Media contact:                    Cris Oehler, Vice President, Corporate Communication, (218) 531-0099

Investor contact:                Loren Hanson, Manager, Investor Relations, (218) 739-8481 or (800) 664-1259           

 

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