Tuesday, May 01, 2012

Directors re-elected; pay approval 'overwhelming'

In a statement, Corporate just announced that shareholders had re-elected the board of directors' 10 members to one-year terms, at this morning's annual meeting. They included Marjorie Magner, who was elected chairman in October, when Craig Dubow retired as board leader and CEO.

Shareholders also "overwhelmingly" voted in favor of an advisory vote approving executive compensation, the statement says.

The "Say on Pay" vote, mandated under federal law for the second consecutive year, is non-binding.

Today's statement didn't give a breakdown on how many votes were cast in favor of the directors or the pay resolution. Last year, Corporate disclosed three days after that year's meeting that about 20% of the votes opposed the compensation policy -- opposition that later figured into a revamping of executive pay.

Today's meeting was scheduled to start at 10 a.m. ET and more than likely concluded before noon. It's unclear why it took so long to release the vote results, however.


  1. The 88-year-old legend lives on!

    Hundreds of people no doubt were in the audience today for the annual shareholders meeting.

    But who does Corporate give a shout-out to in its Twitter feed? Big Al.

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  3. Welll......There was a man from Nantucket......"

  4. Well, who bothers with input of their opinion anymore? Morale is so low, is this why these things are characterized in terms of relative percentages rather than hard numbers?

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