01:58 PM EDT, 03/26/2024 (MT Newswires) -- Orion Group Holdings ( ORN ) shares were down 10% in recent Tuesday trading after the company announced the retirement of a board member late Monday.

Richard L. Daerr Jr., an independent director who previously served as the board's chairman, will not be standing for reelection at the company's annual meeting on May 16.

Orion will not replace Daerr and instead reduce its board size to seven members, it said.

Price: 8.45, Change: -0.94, Percent Change: -10.01