GrafTech International Ltd. today announced it has entered into a cooperation agreement with Nilesh Undavia, a significant stockholder holding approximately 6.7% of the company's outstanding common stock. This agreement aims to foster constructive engagement between the company and its investors.
Pursuant to the Cooperation Agreement, Sachin Shivaram has been appointed to GrafTech's Board of Directors, effective immediately. Mr. Shivaram brings extensive experience from the steel industry, having served as CEO of Wisconsin Aluminum Foundry Company, Inc. since 2019 and previously holding executive roles at ArcelorMittal S.A.
The company and Mr. Undavia will also collaborate to identify a mutually agreed upon independent candidate for nomination to the Board at the 2025 annual meeting of stockholders. Mr. Undavia has agreed to customary standstill provisions and voting commitments, signaling a stable path forward for board composition and strategic oversight.
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