Evergreen Energy (EEE) Appoints William H. Walker as Chairman

April 16, 2008 12:05 PM EDT

Evergreen Energy Inc. (NYSE: EEE) has added energy and capital markets veteran William H. Walker, Jr. to its board of directors as its new non-executive chairman. Walker, 62, is former president of Howard Weil Inc.. After Evergreen’s upcoming annual meeting, Walker’s appointment, combined with two additional board moves, will give Evergreen 10 directors, nine of whom are independent as defined by NYSE Arca rules.

Also, Theodore Venners, the company’s founder, chief strategy officer and a current board member, will not stand for reelection at the June 17, 2008 annual shareholders meeting. The move follows the board’s requirement that only one member of Evergreen management serve on the board. Evergreen president and CEO, Kevin R. Collins, will continue to serve on the board.

John V. Lovoi resigned from the board so that he can devote more time to his other business interests.

Robert J. Clark, formerly non-executive chairman, relinquished his chairman role but remains on the board and will continue to chair the audit committee.

Jack C. Pester relinquished his role as “lead director,� a position which the board determined was no longer required.

EverGreen Energy Inc. is a clean coal company focused on developing its K-Fuel process, a vertically integrated, coal-based platform for delivering energy.[SM]

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