Compliance » “Zombie Directors” Targeted By Investor Group

“Zombie Directors” Targeted By Investor Group

October 31, 2016

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In 2016, a majority of shareholders rejected 44 directors at Russell 3000 companies, yet 40 of them continued to serve, according to the Council of Institutional Investors, which highlights the persistence of “zombie directors” in a recent PR campaign. The organization lays blame on plurality voting, which it says results in “rubber-stamp elections and directors who are not truly accountable to shareholders.” CII has conducted a years-long campaign to get such directors removed from boards, and has been writing letters to major companies, urging them to adopt majority voting.

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