Last week, the Healthsouth Corporation became one of the first companies to adopt a bylaw that allows a shareholder to claim reimbursement of reasonable electioneering expenses if a board candidate he nominated and campaigned for got elected instead of one of the company’s candidates. This is the latest in a series of legal measures that are shifting power from companies to large shareholders in director elections.
How Powerful Should Shareholders Be in Corporate Elections?
Last week, the Healthsouth Corporation became one of the first companies to adopt a bylaw that allows a shareholder to claim reimbursement of reasonable electioneering expenses if a board candidate he nominated and campaigned for got elected instead of one of the company’s candidates. This is the latest in a series of legal measures that […]
October 30, 2009