AmCham Annual General Meeting; July 15, 2009

On July 15, 2009 AmCham hosted its Annual General Meeting (AGM) at Armenia Marriott Hotel. This is an event when AmCham provides summary report on its activities to the members and most importantly when the new Board of Directors is elected. A detailed presentation by AmCham Board President Mr. David Atanessian addressed progress that AmCham had in advocacy and lobbying activities, promoting organization through publications, as well as other AmCham events. Ms. Araksya Melkonyan, AmCham Second Vice-President/Treasurer updated the membership on AmCham financial situation.

28 regular members were present at the elections. The following are results of elections.

Board President

There were two candidates for this position, the acting president Mr. David Atanessian and Mr. Vahak Hovnanian, the owner of Hovnanian International Corporation. David Atanessian received 16 votes, while Mr. Hovnanian received 11 votes. There was 1 abstention. As a result, David Atanessian was elected as AmCham President.

First Vice-President

The following candidacies were proposed:
Vahak Hovnanian (Hovnanian International)- 19 votes
Andranik Hovhannisyan (Synopsys)- 5 votes
Armen Melikyan (Nasdaq OMX) - 4 votes
Consequently, Mr. Vahak Hovnanian was elected as First Vice-President.

Second Vice-President

Araksya Melkonyan`s candidacy was put on the open voting for the position of the Board Second Vice-President. She was elected as such with the majority of voices.

Board Member positions

The results are the following:
Altaf Tapia (PWC) - 22 votes
Andranik Hovhannisyan (Synopsys) - 22 votes
Tim Slater (HSBC) - 17 votes
Georgi Isayan (Credence Systems) - 17 votes
Suren Zohrabyan (Converse Bank) - 16 votes
Armen Melikyan (Nasdaq OMX) - 15 votes

As a result, Altaf Tapia, Andranik Hovhannisyan, Tim Slater, and Georgi Isayan assumed their Board Member positions.

General Meeting ended up with a small vine reception, where Members had a chance to talk to each other and network.