Tuesday, Apr 24, 2018
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Tecumseh Products sets meeting on ousting 2

The Herrick Foundation, which owns a major portion of stock in Tecumseh Products Co., has forced the suburban Ann Arbor firm to hold a meeting on removing two board members.

The special session is scheduled for Nov. 21 to consider removal of Peter Banks and David Risley and to name replacements. A judge has ordered it upon the request of the foundation.

The Herrick family controlled Tecumseh Products for decades and was ousted last year in a spat with new board members. Mr. Risley became a board member after Todd Herrick, a grandson of the company founder, was ousted as chief executive last year.

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