Hancock Fabrics board members elected

By Carlie Kollath/NEMS Daily Journal

BALDWYN – Hancock Fabrics stockholders on Monday elected five directors to the company’s board.
The vote was made at the company’s annual meeting, according to a filing with the U.S. Securities and Exchange Commission.
The members are Hancock CEO Jane Aggers, Sam Cortez, Steven Morgan, Steven Scheiwe and Neil Subin.
They will serve a one-year term.
Hancock Fabrics stockholders also ratified the appointment of Burr Pilger Mayer as the company’s independent auditors for the fiscal year ending Jan. 29, 2011. Hancock hired Burr Pilger Mayer after it ended its longtime relationship with PricewaterhouseCooper. Hancock currently is suing PwC, blaming the accounting company’s actions for ultimately causing the fabric retailer to file for bankruptcy protection.
After being sent to federal court, the lawsuit was returned June 2 to Lee County Circuit Court.
In addition, the stockholders at the meeting approved an amendment to the company’s 2001 stock incentive plan, extending the expiration date to March 4, 2021.
According to an SEC filing, the plan provides for the award of long-term incentives to those key employees and directors who make substantial contributions to the company by their loyalty, industry and invention.

Contact Carlie Kollath at (662) 678-1598 or carlie.kollath@djournal.com.

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