APC shareholders to debate diversity

ST. LOUIS, Mo. — When American Power Conversion shareholders gather later this
week (June 7) in APC’s offices here for the company’s annual meeting it will again
debate a shareholder proposal that seeks more diversity on the APC Board of Directors.
The five-member board, all of whom are male and long-term board members, opposes
the resolution maintaining its not in the best interest of the company, although
stating the company seeks diversification within its workforce. The resolution
asks the company to make a greater effort to locate qualified board candidates
who are “women and persons of color,” asks the board to issue a public statement
committing the company to board inclusiveness, and asks for a report to shareholders
by September 2001 outlining efforts to encourage board diversification, criteria
for board qualification and the selection process for board members.