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Myers Industries Board Member Resigns

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Daniel R. Lee resigned his position on Myers Industries board of directors on March 13, according to a Securities and Exchange Commission filing by the company.  Myers Logo2 CMYK [Converted]

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In his resignation letter to fellow board members, Lee cites his resignation is because it was recommended that only he not be re-nominated as director.

In his letter, Lee also stated, “I have been shocked by the board’s careless attitude toward important decisions regarding the company, including significant divestitures and executive compensation.”

Myers Industries responded to Lee’s statements in its SEC filing and said it “takes exception to the opportunistic and negative comments made by Mr. Lee about the board in his resignation letter.”

You can read Lee’s full letter of resignation here.

Lee was elected to Myers’ newly expanded 10-person board in 2013. In its most recent proxy statement, Myers Industries said it decided to reduce its board to just nine members and declined to renominate Lee to his position.

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Earlier this week Myers Industries disclosed in another SEC filing that it may have experienced fraud in its Brazilian operations.

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