Tuesday, May 07, 2013

Full slate of directors is re-elected to the board

In an outcome that was expected, Corporate said today that shareholders at the annual meeting this morning re-elected Chairman Marjorie Magner, CEO Gracia Martore, John Cody, Howard Elias, John Jeffry Louis, Scott McCune, Duncan McFarland, Susan Ness and Neal Shapiro. Each director receiving at least 96.6% of the votes cast, Corporate noted in a statement.

A year ago, the outcome was far different for McCune, who received only 67% of the vote. None of the other directors came close to losing that many votes, according to the tally.

Corporate previously disclosed that Arthur Harper, who may have been the board's lone minority member, had decided to not stand for re-election. No reason was given at the time, and it's unclear whether his seat will be left permanently vacant. (Photos of all the directors re-elected today.)

The directors were elected to serve one-year terms ending at Gannett's annual meeting in 2014.

Shareholders also approved, by 92.97% of the votes cast, an advisory resolution on the compensation of the company's named executive officers reported in the company's 2013 proxy statement. The so-called say-on-pay vote is a non-binding annual vote on executive compensation.

In its election outcome statement a year ago, Corporate had not provided percentages on the tally.

1 comment:

Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."

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