Accuride Corp. (ACW), a maker of wheels for trucks and trailers, fell the most in more than three months after the company said its chairman won’t seek re-election to the board.
Accuride slid as much as 8.1 percent, the biggest intraday drop since Nov. 21. The shares declined 6.3 percent to $7.50 at 12:53 p.m. New York time, after reaching $7.35. The shares have risen 12 percent this year before today, after plunging 55 percent in 2011.
William Lasky, chairman of the Evansville, Indiana-based company, won’t stand for re-election to the board at the April 24 annual meeting, Accuride said in a statement yesterday. Lasky will remain chairman until his current term expires at that time.
Lasky led the company through a 2009 bankruptcy restructuring and was its interim chief executive officer for more than two years until Rick Dauch took over in February 2011.
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