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CalPERS Seeks Majority Vote for Corporate Directors

CalPERS believes that in an uncontested director election, a majority of proxies cast should be required to elect a director. In a contested election, a plurality of proxies cast should be required to elect a director.  Currently, a plurality vote system is used in most corporate elections, in which directors can be elected by the vote of a single share unless they are opposed by a dissident candidate.  CalPERS plans to support the initiative through the following courses of action:

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Last Updated: 05-03-2012