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Many Companies Give Pension Systems New Say in Board Make-Up

By DAN ROSENBLUM
Posted 5/2/16

More than two-thirds of the companies asked to adopt policies allowing more competition in corporate elections have agreed to do so, City Comptroller Scott Stringer said April 26.

The “Boardroom Accountability Project” was launched in November 2014 as a national push to get corporations to allow shareholders who have collectively owned at least 3 percent of a company for at least three years to nominate challengers to compete against their chosen slates of directors. At the time, only six companies had policies that allowed for more-direct corporate elections; more than 210 corporations have since enacted bylaws, according to the Comp­troller’s Office.

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