EDO Corporation - Corporate Governance

Corporate Governance

EDO's Board of Directors has adopted corporate governance guidelines and charters for each of its board committees. These documents, together with the Company's Ethical Business Guide, are the foundation of EDO's corporate governance and business conduct practices, and they are accessible for viewing on EDO's website. The Board reviews its governance guidelines and committee charters at least annually to ensure that EDO maintains and improves on its practices.

EDO Director Dennis C. Blair

Dennis C. Blair's membership on the board of directors of EDO Corporation, a subcontractor for the F-22 Raptor fighter program, and ownership of its stock was raised as a potential conflict of interest after the Institute for Defense Analyses issued a study that endorsed a three-year contract for the program. Blair told the Washington Post, "My review was not affected at all by my association with EDO Corp., and the report was a good one." He originally chose not to recuse himself because his link to EDO was not of sufficient "scale" to require it, but subsequently resigned from the EDO board to avoid any misperceptions.

However on Wednesday, December 20, 2006 the Washington Post reported that the US Department of Defense Inspector General's investigation into the affair found Blair had certainly violated the Conflict of Interest rules. The DoD report is available here: http://www.dodig.mil/fo/Foia/ERR/Blairreport113006.pdf