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Think Tanked
Posted at 05:18 PM ET, 03/22/2012

Koch brothers vs. Cato: Cato announces new board members after special meeting

The Cato Institute has announced the re-instatement of four board members, following a special meeting of the full 16-member board today.

“These Board members are solid libertarians who have been generous supporters of the Cato Institute. We very much appreciate their support and are delighted to have them actively involved in Cato’s governance,”  said Robert A. Levy, chairman of the Board in a statement.

The new directors are:

•William A. Dunn, President, Dunn Capital Management

•John C. Malone, Chairman, Liberty Media Corporation

•Lewis E. Randall, investor, Freeland, WA

•Donald G. Smith, President, Donald Smith & Co., Inc.

All four members had been on the board of directors until March 2012, when Charles and David Koch, exercising their power as shareholders of the organization, voted them off--something that Levy said was a “disservice to Cato.”

According to Levy, board members are routinely re-elected to their posts when their term is up.

The new appointments come on the same day David Koch released a nine page statement defending the actions he and his brother have taken and accusing Cato president Ed Crane of employing a strategy of “Rule or Ruin.”

By  |  05:18 PM ET, 03/22/2012

 
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