Sentences with phrase «majority voting shareholder»

Yet Zuckerberg — who is not only Facebook's CEO, but also the chairman of its board and its majority voting shareholder — struggled to describe when his personal thinking about the company and its philosophy shifted.

Not exact matches

While a majority of Goldman Sachs (gs) shareholders voted in favor of executive pay plans on Friday at the bank's annual meeting in its Jersey City offices, around 34 % did not.

Proposals to declassify the board and require majority voting are almost always popular with shareholders, so it's not like these companies are going out on a limb.

The board really polices itself but shareholders should have a greater say, through at a minimum majority voting and not having staggered boards.

Nabors shareholders also sent a strong rebuke against the company's governance practices with a majority vote against one of its two director nominees, Myron M. Sheinfeld.

In April, they voted in favor of a shareholder proposal requiring annual majority rule votes for all directors, which Nabors has said they will abide by.

As The Information notes, Kalanick and two people close to him control a majority of shareholder votes, an approach that has become frequently used in tech startups.

They are asking for policies that most well run companies have adopted; things like majority vote standards, so directors are only elected to the board if a majority of shareholders want them there.

Because the founders currently hold majority - voting rights, the plan does not require that shareholders give their consent to the dilution of their future voting power.

Elliott wants to keep Genish, appointed by Vivendi, but he told Britain's Sunday Telegraph that his position would be untenable if Elliott and its allies secured a majority of board seats at a shareholder vote on Friday.

It can be done at a shareholder meeting, by unanimous consent of shareholders, or even by majority shareholder consent «without a meeting, without prior notice and without a vote,» Bouchard wrote.

By Monday morning, the NBA will have crowned a champion and Facebook's shareholders will be gathering for the company's annual meeting, with votes concerning Mark Zuckerberg's majority voting control planned.

Vivendi's chances of securing a board majority are fading, especially after three proxy advisors recommended backing Elliott's candidates ahead of the April vote, saying the French group had been damaging for governance and shareholder returns.

In Italy, Telecom Italia chief Amos Genish said that his position in the firm would be «untenable» if activist fund Elliott gets the majority of the board seats during a shareholder vote Friday, Reuters reported.

Tesla shareholders are due to vote on March 21, and the company needs majority approval for the proposal to go through.

Under applicable TSX rules, the transaction also requires the approval of Loblaw shareholders by majority vote, as the number of Loblaw common shares to be issued in the transaction exceeds 25 % of the total number of outstanding Loblaw common shares.

If, for example, our existing shareholders retain a significant portion of their holdings of Class B common stock for an extended period of time, they could, in the future, continue to control a majority of the combined voting power of our outstanding capital stock.

«There should not be unequal voting rights as they could allow management or minority share owners to override the wishes or best interests of majority shareholders for personal benefit and compromise accountability, leading to potential entrenchment issues,» Mary Leung, head of advocacy for Asia at CFA Institute, an association of investment professionals, said in a statement.

New rules will require CBCA companies — about 40 % of companies listed on the TSX — to hold an election for their entire board of directors annually, vote for each director individually and, most importantly, use uniquely crafted majority - voting rules that only let shareholders vote «no» or «yes» for a director, eliminating the use of «withhold» votes which is standard practice under existing TSX rules.

Dual - class structures are designed to make it difficult or impossible for non-founder shareholders to generate a majority vote, which is needed to make certain changes at the company, such as replacing the CEO.

The Globe and Mail editorial endorses CCGG's positions on the need for majority voting in uncontested director elections and for shareholder involvement in the director nomination process

The affirmative vote of the holders of a majority of the Shares present in person or represented by proxy at the meeting and entitled to vote on the proposal at issue is required for: (i) the ratification of the appointment of E&Y as Walmart's independent accountants for fiscal 2014; (ii) the adoption of a non-binding advisory resolution to approve the compensation of the company's NEOs; (iii) the approval of the Management Incentive Plan, as amended; and (iv) the adoption of each of the shareholder proposals.

The sale is still pending majority shareholder approval, but investors representing 46 % have already indicated that they'll vote in favor.

Research indicates, for instance, that companies with majority (rather than plurality) voting for directors are more apt to adopt shareholder proposals that garner majority support, and that many chief financial officers are willing to forgo investments in projects expected to be profitable in the longer term in order to meet analysts» quarterly earnings estimates.

At any meeting at which a quorum has been established, the affirmative vote of the holders of a majority of the Shares present in person or represented by proxy at the meeting and entitled to vote on the proposal at issue is required for: (i) the ratification of the appointment of EY as Walmart's independent accountants for fiscal 2016; (ii) the adoption of a non-binding advisory resolution to approve the compensation of the company's NEOs; (iii) the approval of the Stock Incentive Plan of 2015; and (iv) the adoption of each of the shareholder proposals.

In particular, companies should be allowed to introduce dual - class shares after they have gone public, subject to a majority - of - minority shareholder vote.

L. (Sept. 1, 2014), http://us.practicallaw.com/4-578-4485 [http://perma.cc/8XRK-A4YL](«It appears that ISS negative vote recommendations based on the perceived lack of board responsiveness to shareholder concerns (as evidenced by the failure to implement a successful shareholder proposal) was the leading factor associated with directors who failed to receive a majority of votes cast in an uncontested election in 2014.»)

«Moreover, we believe that a supermajority vote requirement can enable a small group of shareholders to overrule the will of the majority shareholders.

Experience with cumulative voting suggests that adversarial relations between the majority block and the minority of shareholder nominees commonly dominate such divided boards.

L. Rev. 83 (2010), proposes going beyond merely permitting shareholder recommendations under 14a - 8 to, among other things, majority shareholder voting on corporate speech decisions.

As opposed to ignoring shareholders who abstain, as the proposal would do, we believe it appropriate to count abstentions as present at the Annual Meeting and entitled to vote, and thus as relevant in determining whether a majority of the shares present have voted in favor of a proposal.

Telecom Italia CEO Amos Genish said his position at Italy's biggest phone group would be «untenable» if activist fund Elliott manages to win the majority of board seats at a shareholder vote.

The Board believes that it is the responsibility of any person putting a proposal forward for shareholders to approve — regardless of whether the Company or a shareholder proponent — to persuade shareholders owning a majority of the shares that vote to support the proposal.

I guess the lesson of Travis Kalanick's resignation as chief executive officer of Uber Technologies Inc. is that you can be the visionary founder of a massive company, stay private to avoid the pressures of the public market, keep control of a majority of the voting power of the shares, and still be forced out in a boardroom coup led by activist shareholders:

In connection with a shareholder proposal made at the 2012 annual meeting of shareholders, the Company informed its shareholders that the Board had adopted a policy providing for majority voting for the election of directors in uncontested elections and that the Company would take steps to implement majority voting in its Articles and bylaws.

At last year's annual meeting, the company's advisory vote on executive compensation failed to receive majority support from shareholders, with approximately 29 % of shareholders supporting the proposal; however this was just one of the issues the company faced in the past year.

Whereas the current Code merely calls for a statement to be published on the company's website in response to shareholder concerns when a say - on - pay fails to receive majority support, the Senate's amendment would require companies to prepare and present a report at the next general meeting detailing how it took the shareholder vote into consideration.

Ct. 2015), Mr. Bruckner and the Corporate Governance team caused the North State Bancorp merger agreement to be amended to provide a «majority of the minority» provision for common shareholders in connection with the shareholder vote on the merger.

Similar proposals, also called «Aiming for A,» received well over majority support at a handful of European companies where they were submitted in 2015, due in large part to the fact that in each case the board recommended shareholders vote in favor.

In the event that (i) the Board of Directors proposes, recommends, approves or otherwise submits to the shareholders of the Company, for shareholder action, a Deemed Liquidation Event, and (ii) a Holder has not received written notice from the holders of a majority of the shares of Key Holder Common Stock that such holders approve the Deemed Liquidation Event, then such Holder hereby agrees to vote (in person, by proxy or by action by written consent, as applicable) all shares of capital stock of the Company now or hereafter directly or indirectly owned of record or beneficially by such Holder against the Deemed Liquidation Event, to assert statutory dissenters» rights with respect to the Deemed Liquidation Event, and to take such other action in derogation of the Deemed Liquidation Event as shall be requested by the holders of a majority of the shares of Key Holder Common Stock in order to carry out the terms and provision of this Section x.y..

It also plans to introduce a majority voting policy in 2012, which would require directors to offer their resignations to the board if they fail to garner a majority of «for» votes in annual shareholder elections.

- Majority voting policies provide minority shareholders with greater influence over the composition of the board of directors, who are their key representatives.

Canadian shareholders and markets stand to gain from this enhanced accountability, similar to the documented benefits for shareholders in other jurisdictions when they have effectively implemented majority voting.

Majority voting policies provide minority shareholders with greater influence over the composition of the board of directors, who are their key representatives.

In other words, shareholders would follow a common procedure to vote «for» or «against» a candidate, and only those candidates who receive majority support would serve as directors.

And many corporations that have adopted some sort of majority voting have adopted policies that nevertheless allow incumbent directors to remain on corporate boards even if their reelection was opposed by a majority of shareholders.

Under the default rule applicable to virtually every corporation in the United States, however, corporate directors are elected through a standard that guarantees that a director could be elected with even a single affirmative vote, even if that director's candidacy is opposed by the overwhelming majority of shareholders.

The majority (133) of the 253 Canadian firms making up the S&P / TSX Index (i.e., the largest listed corporations in Canada) have at least one shareholder with 10 % or more of the votes.

20th December 2017 - London Stock Exchange Group result of general meeting: majority of shareholders vote with board against proposed resolution to remove Donald Brydon

That shareholder cap can only be changed if the company's constitution is changed which requires a 75 per cent majority of those voting.