The Woodlands, Texas - Huntsman Corp. has announced the resignation of David Matlin and Christopher Pechock from Huntsman Corp.'s board of directors, with effect from 8 Aug 2007. Both Matlin and Pechock are principals of MatlinPatterson Global Advisers llc, parts of which recently sold about 57 million shares of Huntsman Corp. stock, following an underwriting agreement announced on 2 Aug. Jon M. Huntsman, chairman and founder of Huntsman Corp., expressed the board's appreciation for Matlin and Pechock's services to the group. David Matlin, ceo of MatlinPatterson, said, "We leave the Board, not because of any disagreement with the Board or the Company, but because our firm last week sold over 70 percent of its stock holdings, leaving it with an ownership percentage of less than 10 percent of the Huntsman equity."MatlinPatterson affiliates continue to hold an interest in Huntsman through HMP Equity Trust and have agreed to vote about 19.9 million shares in favour of the agreement to merge Huntsman with Hexion Specialty Chemicals Inc."
