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Vishay also urged IR shareholders to support its three nominees to the company's board in the upcoming elections on Oct. 10. The company also noted that RiskMetrics, the proxy advisory firm, has endorsed its slate.
Lower commodity prices, warm weather and lower off-peak energy prices were expected to take $480 million from its contribution margin in the wholesale energy business, the company said.
Reliant has a retail customer franchise and a portfolio of wholesale generation assets.
'In light of the challenges facing our industry and the economy as a whole, we believe it is appropriate to explore the full range of options to enhance stockholder value while we continue to execute on our current business plan,' Mark Jacobs, president and chief executive, said in a statement.
The board formed a special committee comprised of Evan J. Silverstein, the chair, Steven L. Miller, Joel V. Staff and William L
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