MMI wants former Brink’s Home Security prez, Peter Michel, three others, on board at Brink’s

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12/02/2007
There’s no rest lately for The Brink’s Company Board of Directors. On Friday, MMI—who along with Pirate Capital has been after Brink’s for months to consider selling one of their divisions—said in this SEC filing that it intends to nominate four people at the annual meeting. And one of these nominees, Peter MichelCEO of iSecureTrak knows Brink’s very well, as he served as president of the company for 13 years, from 1988 to 2001. “I am enthusiastic about serving on the board,” he told me Friday afternoon. (During Michel's tenure Brink's Home Security went from a $26 million in revenues to a $258 million.) MMI’s Clay Lifflander, said in a statement, said that MMI is “not seeking control of the board” but rather is trying to “ fill major gaps in the experience and skillset of the current directors, particularly as the board has limited direct Wall Street experience and no expertise in the security industry, other than Chairman, CEO & President Michael Dan.” Lifflander goes on to say that “MMI recognizes that election of our slate means the removal of Michael Dan from the board.” However, he says that if MMI is successful in getting its slate appointed to the board, it would “support expansion of the board by one seat and Michael Dan’s reappointment.” Other nominees are: John S. Dyson, Robert J. Strang and Carroll R. Wetzel, Jr. MMI owns 8.4 percent of Brink’s stock.