This excerpt taken from the STRL DEF 14A filed Apr 3, 2008.
Nomination of Directors. The Board's Corporate Governance & Nominating Committee has the responsibility, among others, to identify and nominate qualified candidates for election to the Board. The Committee has nominated Messrs. Manning and Harper for re-election to the Board as Class I directors. Their current term of office expires at the Annual Meeting. The term of Class II directors expires at the Annual Meeting of Stockholders in 2009, and the term of Class III directors expires at the Annual Meeting of Stockholders in 2010. Information about the background of the nominees is set forth above in the section entitled Background of Nominees under the heading Election of Directors (Proposal 1).
The Corporate Governance & Nominating Committee seeks to achieve a Board that is composed of individuals who have experience relevant to the needs of the Company and who have a high level of professional and personal ethics. The Committee looks for candidates with business experience in the construction industry and/or with engineering, financial reporting, investment, corporate governance, senior management or other skills and experience that can contribute to an effective Board. Candidates are expected to be committed to enhancing stockholder value and to have sufficient time to carry out the duties of a director and member of one or more Board committees. The Corporate Governance & Nominating Committee has not specified any minimum qualifications for serving on the Board.
The Committee uses a variety of methods for identifying and evaluating nominees for director. Candidates may come to the attention of the Committee through current members of the Board, Company employees, professional search firms, stockholders and other persons, but in any event, the Committee requires and checks multiple references before nominating a candidate for election to the Board.
The Committee has not established a policy regarding the consideration of director candidates recommended by stockholders primarily because the Company has not received recommendations of that kind for more than the last ten years. If a stockholder wishes to recommend a person as a director candidate, the stockholder may follow the procedure for communicating with the Board that is described above in this section under the heading Communicating with the Board. Recommendations of candidates for nomination for the 2009 Annual Meeting of Stockholders must be received by the date set forth below under the heading Submission of Stockholder Proposals.