Alternate Director

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Alternate Director

A temporary delegate for a member of a board of directors who stands in during his/her absence.. While laws vary, in most jurisdictions, the alternate director has the same rights and responsibilities as the member he/she represents.
References in periodicals archive ?
Wilson and Rodrigo Salcedo, alternate directors at Volaris have submitted their resignations as director and alternate directors, respectively, the company said.
"Asset owners and managers also should consider whether further board-level actions are warranted, such as voting against directors overseeing executive compensation, environmental issues, and political spending; enacting governance reforms to improve board independence; or nominating alternate directors."
Further, the AGM decided that the board shall consist of five members, with no alternate directors. Board members Mia Arnhult, Christian Kinch, Marie Wickman -Chanteraeu and Svante Ostblom were re-elected, while Jan Stahlberg was elected as a new board member and chairman of the board.
The Metro Board of Directors is composed of eight voting and eight alternate directors. Maryland, the District of Columbia, Virginia, and the federal government appoint two voting and two alternate directors each.
If your business is incorporated, you may need to put a director's LPA in place alongside a review of the Company's Memorandum and Articles of Association, or consider alternate directors.
Three new alternate directors namely Herschel Gunawardena, P.A.
He and another large shareholder, Casablanca Capital, have been critical of management of late, with the latter specifically calling the company a "country club." Both shareholders were irate over Mentor's recent decision to move up its annual meeting, thus hampering the ability for the dissident shareholders to propose alternate directors for the company's board.
Relying mainly on such strategies as ousting directors or nominating alternate directors can affect only a few corporate outliers at best.
Thierry Baudon and Michael Krammer, the two alternate directors, have replaced TDC's two remaining representatives on Invitel's board of directors following the equity transaction.
TITLE: This amendment provides a procedure for selecting alternate directors for at-large directors on the Board of Directors, and sets forth the circumstances under which such alternate directors would serve.
Should the existing board resist Biglari's proposed changes, we'd not be surprised by a second proxy fight in 2008 running a second set of alternate directors." In other words, the battle for control of Friendly's still has a long way to go.
All directors (including alternate directors) have a statutory obligation to give to the company all the information that must be placed in The Register of Directors and Secretary.
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