Election results for four Sealaska board seats and a shareholder resolution were determined at the 2017 annual meeting. Each year, Sealaska holds its annual meeting in communities where shareholders live including southeast Alaska, Anchorage and Washington. For the first time, the meeting was held in Hydaburg, AK. “It’s meaningful for me and the board that Sealaska is in the heart of our villages in a meaningful way,” said Sealaska Chair Joe Nelson. “We had a strong attendance at the meeting and were able to hold up Hydaburg during an emotional time.”
Sealaska President and CEO Anthony Mallott highlighted, that Sealaska progress is the result of sticking to a five-year strategic plan. “Sealaska’s strategic plan is to operate in relevant industries, find efficiencies and add value to our businesses,” said Mallott. “Our success is driven by the dedication to follow the strategic plan. As a result, we estimate Sealaska net income to be nearly $20 million in 2017. Our immediate future investments, to drive continued progress, will advance seafood | natural food businesses, that are guided by core Native values of sustainability and our traditional ties to the ocean and its resources.”
Annual Meeting Election Results
Sealaska shareholders were voting for four director seats and a shareholder resolution. Approximately 56.7% of eligible shares were voted in 2017. Four board slate and five independent candidates were on the proxy card. Sealaska thanks each candidate that steps up and decides to run. This is not an easy decision and careful consideration is made by each person.
The top four candidates receiving the majority votes include, Sid Edenshaw, Edward Thomas, Ross Soboleff and Morgan Howard. “It’s with great honor, respect and responsibility I move into this position,” said newly elected director Morgan Howard. “Sealaska is making great progress with its new business and acquisition and I look forward to working with the team to continue this success.”
Shareholders voted on a binding resolution, that would amend Sealaska bylaws. The resolution asked shareholders if they agreed to amend bylaws and decrease the board size from 13 to 9. There were 2,034,433 eligible voting shares. The 2017 resolution needed to receive a “yes” vote of a majority of eligible voting shares or 1,012,046 in order to pass. There were 583,391 voting shares that voted in favor of the resolution. There were 515,441 that voted "no" on the resolution. Therefore, the resolution did not meet the threshold and did not pass.
Annual Meeting Special Recognition
Sealaska director Rosita Worl announced in February that she would not run for re-election. Directors and staff acknowledged her years of service and her contributions as Sealaska director. “Rosita was a champion in the boardroom and was successful in inspiring the board to make decisions on important issues such as issuing stock to descendants (2007) or protecting Sealaska’s most precious asset, our land base,” said Director Albert Kookesh. “She authored Sealaska’s land policy that is guided by our core native values. Rosita never wavered in her determination, amid the criticism in and outside the boardroom. On behalf of the board and staff, we thank you for your dedication."
“Sealaska financial success continues to move forward, improving our progress and profitability,” said Sealaska Chair Nelson. “The board and management have a lot of work ahead and I’m confident in the team to continue this trend.”
“During our time in Hydaburg, Sealaska board and staff were able to support the community while they focused their efforts on searching for one of their own,” said Nelson. “Frances Charles, went missing Thursday, June 22. As of Tuesday, June 27, 2017 family and friends continue the search. We all hope they will find closure. The search is being coordinated by Hydaburg Cooperative Association.
At the annual meeting each year, Directors announce the incoming Board Youth Advisor (BYA) and thank the outgoing BYA for their time and energy. Sealaska introduced Nicole George to shareholders, who will serve as the 2017-2018 BYA. During the last year, David Russell-Jensen participated in board meetings while sharing his voice on decisions.
Immediately following the 2017 annual meeting, directors met and elected
• Joe Nelson as chair
• Jodi Mitchell as vice chair
The board also renewed officers including:
• Anthony Mallott, president and chief executive officer
• Terry Downes, chief operating officer
• Doug Morris, vice president and chief financial officer
• Jaeleen Araujo, vice president general counsel and corporate secretary
Sealaska director Richard Rinehart was proud to announce that the 2018 Annual Meeting will be in Wrangell, AK.