Spartech faces new NYSE rules.

Plastics News, August, 2002 by Toloken, Steve

Ralph Andy, head of Spartech Corp.'s compensation committee and a member of its board, is also minority owner of a small side business that buys most of its materials, about $1 million a year, from Spartech. In the post-Enron era, that's the kind of extracurricular financial relationship between boards and companies that is drawing a lot of scrutiny.

Andy and Spartech officials maintain that financial interest does not cloud his ability to be objective in setting pay for company executives. But such situations raise questions among some corporate governance experts - who, while not commenting directly on Spartech, say such ties may not pass muster with tough new rules on corporate governance. ``Those kinds of relationships raise questions about a...