Phelps Dodge News

Two members of the Phelps DodgeCorp. board of directors, Robert N. Burt & Robert D. Krebs, are retiring from the board & will not stand for re-election at the company's annual meeting on May 26th. Burt, retired chairman & C.E.O. of FMC Corp., & Krebs, retired chairman & C.E.O. of Burlington Northern Santa Fe Corp., served on the Phelps Dodge board for 13 years & 19 years, respectively.

The board of directors have nominated Dustan E. McCoy, chairman & C.E.O. of Brunswick Corp., & Martin Richenhagen, president & C.E.O. of AGCO Corp., as the candidates to stand for election at the upcoming annual meeting.

"Bob Burt & Rob Krebs have made important contributions to Phelps Dodgeduring their many years of service, & I certainly understand their desire for less-structured schedules," said J. Steven Whisler, chairman & C.E.O. "We are delighted Dusty McCoy & Martin Richenhagen will be joining our board. Each is a strong, respected, independent business leader with broad & varied business experiences."