NYSE Euronext director Ricardo Salgado received 46% of shareholder votes in the final tally of results that prompted his resignation—the first time a director for the Big Board has failed to win majority approval in the annual re-election process.
In the Bank of America drama playing out on Wall Street, it's now time to cue the activists.
And who should enter stage left but CtW Investment Group! The union group, which stands for Change to Win, sent a letter to Bank of America's lead director, O. Temple Sloan, demanding that the board fire chairman and CEO Ken Lewis, or else:
NYSE Euronext (NYX)
Q1 2011 Earnings Call
April 28, 2011 8:00 am ET
Michael Geltzeiler - Chief Financial Officer and Group Executive Vice President
Unknown Speaker -
Jennifer Ginnis -
Jan Hessels - Chairman and Chairman of Nominating & Governance Committee
Ricardo Salgado - Director and Member of Human Resources & Compensation Committee
Unknown Executive -
Moments ago, the Senate was supposed to vote through Debo Adegbile, Obama's nominee for the civil rights division at the Department of Justice and who represented cop killer Mumia Abu-Jamal. It failed, when the Democrats in the Senate couldn't get enough votes to pass a simple majority with 8 Democrats voted against Adegbile: Casey, Coons, Donnelly, Manchin, Walsh, Heitkamp, Pryor. Reid voted no in order to reconsider nom later.
Ricardo Salgado, vice chairman of Portugal's largest bank, will offer to quit the NYSE Euronext board after nonbinding, preliminary results showed he failed to get a majority of support in a shareholder vote.
Ricardo Salgado, vice chairman of Portugal's largest bank, is expected to tender his resignation from the NYSE Euronext board, after preliminary results showed he failed to get a majority of shareholder support.
TORONTO — A dissident group of shareholders has failed in its attempt to appoint its own nominations to the board at Sherritt International Inc.
A vote held at the company’s annual general meeting saw the majority of shareholders name all nine of Sherritt’s director nominations to the board. The dissident group had put forward its own five names.
Sherritt has been fighting for the past few months with the group, which had also asked for the resignation of president and CEO David Pathe.