Hill international shareholder bulldog investors issues open letter to company president and ceo david richter

Saddle brook, n.j.--(business wire)--bulldog investors, llc (“bulldog”), an sec-registered investment advisor and a major shareholder in hill international (“hill”; nyse:hil) today issued the following letter to david l. richter, president and chief executive officer of hill: dear david: stockholders of hill tell us that their primary complaint is the gross disconnect between executive pay and performance. in your july 22, 2016 letter to stockholders, you try to deflect attention from that issue with a multitude of distortions, half-truths, and outright lies starting with the allegation that we are attempting to “seize control” of hill. that is plainly false since we are only seeking to elect three directors out of a total of nine. we could provide a point-by-point refutation of your other misrepresentations but we think that stockholders will see through your “blame the messenger” rhetoric. on the other hand, this is something they do care about. when irvin richter, your father, retired as ceo, the board of directors awarded him what appears to be a five-year “no show” contract. that contract does not require your father to perform any specific duties. yet, he is paid almost $2 million per annum (including perks). also, it provides that he “shall not be required to devote any specific or minimum hours to the fulfillment of his duties” but it allows him six weeks’ vacation each year. the simple truth is that the directors that rubber stamped such an outrageous giveaway should be replaced with truly independent directors. sincerely yours, phillip goldsteingeneral partnerbulldog investors llc about bulldog investors bulldog investors is an sec-registered investment adviser that manages the bulldog investors group of private funds, special opportunities fund, inc. (nyse:spe), a closed-end registered investment company, and the accounts of certain high net worth individuals and institutions. www.bulldoginvestors.com
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