Schweitzer, McAllister Both Elected to Stillwater Board - ABC FOX MONTANA NEWS, WEATHER, SPORTS - KTMF/KWYB

Schweitzer, McAllister Both Elected to Stillwater Board

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BILLINGS - Former Gov. Brian Schweitzer was elected to the Board of Directors for the Stillwater Mine, Montana's largest publicly traded company.

Schweitzer and three other members of a dissident group of shareholders trying to unseat current mine leadership, were elected Thursday during the Annual Shareholders' Meeting in Nye, Mont.

However, Stillwater Chairman and CEO, Frank McAllister and three current board members were also elected to the board.

McAllister is the very man Schweitzer was trying to unseat in his run for mine leadership.

Schweitzer and members of the Clinton Group, a New York-based hedge fund, accused McAllister and the current board of mismanagement and what they say is risky investment in foreign mines.

Now, the vote will force both sides to work together.

McAllister refuted Schweitzer's claims, saying the dissident wanted to move into mine leadership on the cheap, right as the mine is about to expand mining at sites in the Beartooth Mountains, north of Yellowstone.

Stillwater, with a market value of more than $1.3 billion, runs the only platinum and palladium mines in the United States. The company reported a net income of $43 million in 2012 based on revenues of $800 million.

The vote comes a day before Schweitzer will announce whether or not he will run for U.S. Senate, following his fellow Democrat, Senator Max Baucus', said he will not to run for re-election in 2014.

After Baucus' surprising announcement a few weeks ago, party members immediately turned to Schweitzer to step up and fill the tenured Senator's position.

Schweitzer would not confirm anything, saying he was 'focused like a laser' on Stillwater.

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