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Stock Market & Financial Investment News

News Breaks
May 13, 2014
05:10 EDTVIRCVirco to reduce board to five members
Virco announced that its board has unanimously determined to reconstitute itself into a smaller and nimbler structure. As a result, the board will be reduced in size to 5 members, which is expected to save in excess of $250,000 per year. These savings are in line with the percentage savings achieved by the company in other areas over the past several years. To implement this reconfiguration, six current directors have tendered their resignations. They were replaced by two new independent directors, Robert Lind and Donald Rudkin, who join existing new independent director, Michael DiGregorio.
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