A group of individuals appointed by the board of directors of the companies to formally represent the shareholders who send in proxy cards, to vote the represented shares in accordance with the shareholders' instructions.
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A committee appointed by the board of directors to vote on behalf of shareholders who have given proxy to the board. It is important to note that the proxy committee does not necessarily have the discretion to vote as it wishes; it must vote as the shareholders who have given it proxy intend.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved