Of the 77 percent of common shares voted, 92 percent voted in favor of eliminating pre-emptive rights and 88 percent voted in favor of eliminating cumulative voting
and is concerned that cumulative voting
could lead to the election of
For minorities seeking to elect someone from their community to the board, cumulative voting
certainly was a success.
Recent studies of the impact of classified boards and restriction of cumulative voting
also indicate that the market reacts negatively to these provisions, particularly to those adopted during the takeover wave of the 1980s (Mahoney and Mahoney, 1995; Mahoney et al.
Yet, though cumulative voting
has attractions, it also suffers from serious flaws compared to choice voting, an open-party list system, or MMP.
They not only want to guide you in dividend policy, but are ready to discuss or argue about your policies on diversity, the environment, advertising media, global politics, cumulative voting
, and your salary.
A proposal to amend Fifth Third's Articles of Incorporation and Code of Regulations in order to implement a majority voting standard for uncontested election of directors unless cumulative voting
is in effect.
One amendment would eliminate cumulative voting
in director elections and the other amendment would declassify the Board.
Instant Runoffs, Proportional Representation, and Cumulative Voting
Called preference voting, it is a more proportional form of nonpartisan voting than Guinier's preferred cumulative voting
The advantage of cumulative voting
," she said, "is.
Shareholders also rejected a shareholder proposal to implement cumulative voting
in the election of directors and approved a shareholder proposal requesting the company's Board of Directors to adopt a policy requiring an independent, non-executive chairman of the Board.