That’s your slate?

Williams ‘disappointed’ in Corvex move

Keith Meister’s Corvex Management followed up on its promise to nominate a new slate to Williams Cos.’ board — and the pipeline operator was not impressed.

The Tulsa, Okla.-based energy patch operator, in a statement on Wednesday, said it was “disappointed” in Corvex for pursuing a “distracting and costly proxy contest” when Williams is already planning to name three new directors to its board.

Meister, whose fund has a 4 percent stake in Williams, explained in a letter to shareholders Wednesday that he is nominating 10 people, not three, to the board — all Corvex employees who will serve as placeholders until Meister identifies more appropriate nominees.

It may take a few weeks to identify those members, Meister said.

Meister had served on Williams’ board until June, when he resigned along with five other members when the company’s planned merger with Energy Transfer Equity failed.

Williams’ current board is not comprised of the “best draft picks,” Meister said Monday in an interview on CNBC.

For five years, Williams missed financial expectations and M&A opportunities, Meister said.

In addition to the failed merger with Energy Transfer, Williams also recently rejected merger talks with Enterprise Products Partners, according to reports.

While Williams is “open-minded” about merger opportunities, it said in the statement, it does not comment on M&A rumors.

Shares of Williams closed down 1.8 percent, to $28.06, on Wednesday. They are up 9 percent this year.