Three Washington Mutual directors stepping down

NEW YORK (AFX) - Three directors, citing age requirements and personal reasons, will step down from the Washington Mutual board, the company said in a regulatory filing made Wednesday. Directors Douglas Beighle and William Schulte will retire Aug. 31 because they have reached the mandatory retirement age of 72, WaMu said in its annual proxy statement filed with the Securities and Exchange Commission. Elizabeth Sanders, 59, said she will resign effective April 20 for personal reasons. Sanders is principal of The Sanders Partnership, an executive management and consulting firm. She has served on the WaMu board since 1998. Her term expires in 2006. Beighle, 72, has served on the board since 1989. He is chairman of Puget Energy Inc. and former chief administrative officer of Boeing . Beighle's term was to expire in 2006. Schulte, 72, has been a board member since 1998. He is a former executive with KPMG. Elizabeth Sanders, 59, said she is resigning for personal reasons. Sanders is principal of The Sanders Partnership, an executive management and consulting firm. Directors serve a 3 year term. Washington Mutual shares fell 1.4 percent to $39.15 in early trading. This story was supplied by MarketWatch. For further information see www.marketwatch.com.

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