In a move that could radically alter the way American companies choose their boards, the Securities and Exchange Commission will vote today on a proposal that could make it possible for the ballots distributed by companies to include competing candidates for director.
The commission announced its plan late yesterday but did not indicate whether that proposal would be approved at the meeting.
It also said the commissioners would consider a radically different proposal that would effectively bar shareholders from supporting competing candidates for director unless they were willing to go to the considerable expense of mailing out competing proxies.
See full Article.
Posts
