CARNEGIE, Pa.–(BUSINESS WIRE)–Toby Z. Rice and Derek A. Rice (the Rice Team), shareholders of EQT Corporation (NYSE:EQT), with a stake of approximately 3%, today announced they are reducing the size of their slate of highly qualified nominees for the EQT Board from nine to seven. The change in the slate of nominees offered by the Rice Team was motivated by EQT’s recent announcement that it will nominate three new director candidates to replace three long-tenured directors who have overseen the destruction of significant value at EQT.
Having reviewed these new EQT nominees, the Rice Team believes two of them, Ms. Janet L. Carrig and Mr. James T. McManus II, appear qualified to serve on the EQT Board and, as a result, the Rice Team’s new slate will be: Lydia I. Beebe, Lee M. Canaan, Dr. Kathryn J. Jackson, John F. McCartney, Daniel J. Rice IV, Toby Z. Rice and Hallie A. Vanderhider.
The Rice team issued the following statement in connection with its revised board slate:
“While we are pleased EQT has replaced three long-tenured directors, including its Chairman, and has added two qualified director nominees to its slate that we can support, we continue to believe that substantial Board change is required to achieve the fundamental improvements needed at EQT. If our seven nominees are elected, we believe the Board will have the right mix of expertise, experience and continuity to achieve the performance all shareholders deserve.”