Statement of Terry O'Sullivan, General President of LIUNA, On Hess Corp. Move to Separate Chair and CEO Roles

May 10, 2013, 15:47 ET from Laborers' International Union of North America

WASHINGTON, May 10, 2013 /PRNewswire-USNewswire/ -- As long-term shareholders of Hess Corp., we are deeply concerned about the future of our company. It was with this concern that a LIUNA benefit fund filed a shareholder proposal last November asking the Board of Directors to adopt a policy that the chairman be independent. We are pleased to hear that the company has adopted our proposal and we look forward to continuing to work with Hess leadership on good governance, executive compensation practices and other issues of mutual concern. 


As important stakeholders with thousands of members working in the energy industry, we believe that shareholders will be well served by new directors with industry experience. We look forward to working with Hess to increase the extraction and production of domestic oil and gas, to make sure energy jobs are safe jobs and to continue to fight for America's energy independence.      

The half-million members of LIUNA – the Laborers' International Union of North America – are on the forefront of the construction industry, a powerhouse of workers who are proud to build America.

SOURCE Laborers' International Union of North America