6/24/2013

The Council of Institutional Investors says NYSE Euronext and Nasdaq OMX Group should require companies that trade on their exchanges to remove so-called zombie directors, who fail to get a majority of shareholders' votes even in uncontested elections. "While most of the largest U.S. companies do elect directors by majority vote, thousands of public companies still cling to plurality voting, which makes for rubber-stamp elections," according to the council.

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