3 Sun-Times Directors Delay Departures

Friday, Jan 2, 2009  |  Updated 2:27 PM CDT
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3 Sun-Times Directors Delay Departures

The Sun-Times says recruitment efforts have been hampered by an investor proposal to replace its board.

The Sun-Times Media Group said Friday that three board members have postponed plans to resign until the company can recruit new directors.

Gordon A. Paris, Graham W. Savage and Raymond G.H. Seitz were slated to leave the board no later than Dec. 31. Sun-Times spokeswoman Tammy Chase says the three agreed to stay "to provide some continuity in leadership."

The Sun-Times says recruitment efforts have been hampered by an investor proposal to replace its board. Davidson Kempner Capital Management LLC is seeking to remove all but one member of the company's board and replace them with Davidson's nominees.

Davidson Kempner spokesman Peter Hill says the board's move to "further entrench itself" should concern Sun-Times stockholders, who he said should push for new leadership.

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