Rettberg will be a class II Director under the Fund's staggered board
system, and his term will expire at the 2010 Annual Meeting of Stockholders.
In recommending a vote in favor of the declassification of the Mac-Gray board, ISS noted that "all directors should be accountable on an annual basis" and "a staggered board
can entrench management and effectively preclude most takeover bids or proxy contests.
Optibase and Scopus agreed that all necessary corporate actions will be taken in order to amend Scopus' articles of association such that Scopus will no longer have a staggered board
and Scopus shall adopt instead standard provisions regarding the appointment of directors at Scopus' general meeting by an ordinary majority and agreed on the composition of the board of directors following the closing.
When asked about concerns companies face in considering an unsolicited bid, the majority of advisors continue to rank overpaying (57%) and a staggered board
structure (38%) as the most prominent issues.
These sub-standard corporate governance practices of the Company include, but are not limited to, (i) a staggered board
, (ii) the consolidated power in the combined role of the Chairman and Chief Executive Officer, (iii) the adoption of a Shareholders Rights Plan or "poison pill" in September 2007, (iv) anti-takeover provisions and (v) supermajority voting rules.
Basically, the proposal requests that the Board change the present staggered board
policy that provides for one third of Directors to be elected each year and instead requires that all Directors be elected annually.
today announced that its board of directors voted to amend Criticare's By-Laws to eliminate its staggered board
structure starting with its 2007 annual meeting.
Insufficient due diligence and a staggered board
structure were also among top worries.
If shareholders approve the board's previously announced proposal to eliminate its staggered board
structure, all directors will stand for re-election every year starting with the 2008 annual meeting.
In addition to our GOLD proxy, shareholders may also vote management's WHITE proxy to follow RiskMetrics' or Glass Lewis' recommendation to all their institutional investor clients -- simply vote "FOR" our advisory proposal to recommend that Saks' board take action to eliminate the staggered board
and WITHHOLD support for the re-election of Mr.
NYSE:HRB) today announced that its board of directors voted to eliminate its staggered board
structure starting with its 2008 annual meeting.
SEND A STRONG MESSAGE AND PUT AN END TO THE STAGGERED BOARD