Trailer Bridge board form shareholder committee
The Puerto Rico carrier Trailer Bridge Inc. said its board of directors has formed a committee comprised of non-McLean family member directors to “explore a broad range of strategic alternatives to further enhance shareholder value.”
The move comes in the wake of an announcement in November by the family of the late Malcom P. McLean, the company's founder, that they intended to sell their 47.8 percent stake in the company.
The five members of the committee are Trailer Bridge’s Chairman and Chief Executive Officer John D. McCown, Robert P. Burke, Douglas E. Schimmel, Allen L. Stevens, and Nickel van Reesema.
McLean’s son, Malcom P. McLean Jr. as well as his brother-in-law, Greggory B. Mendenhall, also serve on the company’s seven-member board of directors.
Trailer Bridge said the committee will work closely with the McLean family and its advisors to achieve an orderly sale of the family’s stock in a transaction that the committee believes will be in the best interests of all shareholders.
The group has retained Jefferies & Co. Inc. as its financial advisor.