ANCHORAGE (AP) -- The board of Cook Inlet Regional Inc. has ousted the board chairman of the Native regional corporation.
Robert Woodhead on Friday was replaced by board member Terry Simpson, an Arizona physician.
In brief press release, the company said the move was made to ''affirm the company's commitment to further investment growth.''
''This solidifies CIRI's commitment to our management team's investment philosophy, and I look forward to working with the board to further our shareholder's economic and social well being,'' said corporation President Carl Marrs.
KTUU-TV cited sources within the corporation to report that the board met in a special, unannounced meeting in Seattle and stripped Woodhead of the chairman's job without giving a reason. CIRI officials would not confirm that the board was gathering until the meeting had ended.
CIRI in December issued shareholders $50,000 payouts to shareholders, part of the company's earnings from investing in wireless telephone companies.
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