Posted 10/19/2007 11:28 am
Updated 1 year ago
Deltic Timber Corp. of El Dorado on Thursday named Phillip A. Pesek, 51, to be vice president, general counsel and secretary, according to a company news release.
The company's executive compensation committee of the board of directors voted Wednesday on the change. Pesek will report directly to the chief executive officer, Ray C. Dillon, according to a filing with the Securities & Exchange Commission.
The committee awarded Pesek a nonqualified stock option for 10,000 shares, at an exercise price equal to the closing price of the company's stock on the day before its meeting. The option is exercisable as to 25 percent of the award on the anniversary date of the grant over the next four years.
W. Bayless Rowe, 55, the former vice president, general counsel and secretary announced his retirement effective Nov. 1.
Rowe has been a member of Deltic's management team since its spinoff from Murphy Oil Corp. in 1996. Before that, he held various management positions at Murphy Oil during his 19-year tenure there.
Before joining Deltic, Pesek was vice president, general counsel and secretary of Anthony Forest Products Co. of El Dorado, and before that, worked in various legal roles for The Home Depot Inc., Wal-Mart Stores Inc. and Dillard's Inc.
Also on Thursday, Deltic declared a quarterly dividend of 71/2 cents a share, payable Dec. 15 to stockholders of record Dec. 1.