FERGUS FALLS, Minn., April 13, 2015 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) hosted 235 shareholders and guests at its annual meeting of common shareholders on April 13 in Fergus Falls, Minnesota. This was the corporation's 105th annual meeting. Represented by proxy or present in person at the meeting were 78 percent of the corporation's total shares outstanding.
Shareholders re-elected Karen M. Bohn and Joyce Nelson Schuette to serve three-year terms on Otter Tail Corporation's board of directors. Bohn, of Edina, Minnesota, is the president of Galeo Group, LLC, a management consulting firm. Schuette, of Walker, Minnesota, is a retired managing director and investment banker of the financial services firm Piper Jaffray & Co.
Shareholders also elected Chuck MacFarlane to the board of directors for a three-year term. He replaces Jim McInytre, who retired both as a member of the board of directors and as CEO today. MacFarlane has been Otter Tail Corporation's president and chief operating officer since April 2014.
At a meeting of the board of directors that followed the annual meeting of shareholders, MacFarlane was elected chief executive officer and president of Otter Tail Corporation, succeeding McIntyre. MacFarlane and McIntyre have worked together during the past year to help ensure a smooth transition. As the company's highest-ranking executive, MacFarlane will guide corporate strategy.
"Chuck's appointment is the result of succession planning well done," said Board Chairman Nathan Partain. "As a result, the Board of Directors is confident that Chuck and the management team will continue to execute our strategic plan with diligence and foresight and will provide overall strong leadership."
MacFarlane joined Otter Tail Power Company in 2001 and served as its president beginning in 2003 and its CEO beginning in 2007. While in those roles, he also served as senior vice president of Otter Tail Corporation before being named the corporation's president and chief operating officer last year.
About Otter Tail Corporation
Otter Tail Corporation has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the NASDAQ Global Select Market under the symbol OTTR. The latest investor and corporate information is available at www.ottertail.com. Corporate offices are located in Fergus Falls, Minn., and Fargo, N.D.
CONTACT: Media contact: Cris Oehler, Vice President of Corporate Communications, (218) 531-0099 Investor contact: Loren Hanson, Manager of Investor Relations, (218) 739-8481 or (800) 664-1259
Source:Otter Tail Corporation