Elliott Says to Nominate Directors at Hess

Published January 29, 2013

| Reuters

Elliott Management said on Tuesday it plans to nominate five executives to U.S. oil and gas company Hess Corp's board of directors as part of its push to improve shareholder returns.

Activist investor Elliott, which owns about 4 percent of Hess, also urged the company to "conduct a full strategic and operational review," and consider a spin-off of its assets in the Bakken formation in North Dakota.

Hess said on Monday it plans to sell its oil storage terminal network and exit the refining business.

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