Newco Board. Newco shall take such action as may be necessary to appoint (i) all members serving on the Parent Board of Directors immediately prior to the Effective Time, (ii) the current Chief Executive Officer of the Company and (iii) one additional person presently serving as an outside director of the Board of Directors of the Company on the date hereof, as determined by Parent, to serve on the Newco Board of Directors following the Effective Time.
Appears in 3 contracts
Sources: Merger Agreement (National Grid Group PLC), Merger Agreement (National Grid Group PLC), Merger Agreement (Niagara Mohawk Power Corp /Ny/)