Outline of Process Utilized in Search for a New Director
Pennichuck Corporation Board of Directors
Nominating and Governance Committee
Process that the Pennichuck Board of Directors (“Board”) and the Board’s Nominating and
Governance Committee (“Committee”) followed in recruiting a new director for the Pennichuck
Board to fill the vacancy resulting from the resignation of James McMahon:
- The Committee met in June 2016 to discuss the skills and experience desired in a new
Board member.
- The Committee met in August 2016 (at which meeting all members of the Board
attended) to discuss the qualifications of potential candidates suggested by Committee
and Board members. The Committee also voted to place an advertisement seeking
potential candidates in local newspapers.
- Apublic advertisement seeking potential candidates for the Board was placed in both the
Union Leader and Telegraph in the Friday, Saturday and Sunday editions over two
weekends (Sept 9, 10 & 11 and Sept 16, 17 & 18).
- Acopy of the advertisement, the selection process, director job description, and other
information was placed on Pennichuck’s website.
- The Committee met in October 2016 to review and discuss the resumes received (11 in
total).
- The Committee held non-public interviews with 6 candidates on October 25, November 1
and November 7.
- The Committee met in November 2016 to discuss their impressions of the 6 candidates
interviewed. The Committee agreed to recommend to the Board of Directors that
Mr. Murphy advance to the next step in the nomination process by scheduling a public
interview.
- The Committee discussed the qualifications and experience of Mr. Murphy with the
Board members at the November 2016 Board meeting. The Board voted to approve the
recommendation of the Committee to hold a public interview of Mr. Murphy.
- The Committee held a public interview with Mr. Murphy on December 13, 2016. Notice
of the public meeting/interview was posted on the Company’s website and on the City of
Nashua’s website on November 30, 2016. A letter was hand delivered to City Officials
informing them of the public interview on November 21, 2016.
- The Committee met in December 2016 and voted to recommend to the Board of
Directors that Mr. Murphy be nominated for election to the Board.
- Atthe December 2016 Board Meeting, the Board voted to nominate Mr. Murphy for
election to the Board of Directors at a Special Meeting of the Sole Shareholder.
2A/2017
