On Jan. 25, David Bonderman, a member of the Board of Directors of Armstrong World Industries Inc. since 2009, has informed the Board of his intention to not stand for reelection as a director when his term expires at the company’s 2012 Annual Meeting of Shareholders.
"Mr. Bonderman’s decision is not the result of any disagreement with the company on any matter relating to its operations, policies or practices and he intends to serve as a member of the Board for the remainder of his current term," the company said in its most recent SEC filing. "Under the terms of the Shareholders’ Agreement, Armor TPG has the right to designate a replacement for Mr. Bonderman for nomination at the Annual Meeting and has indicated to the Board that it intends to exercise that right."
Bonderman to leave Armstrong Board of Directors
February 1, 2012