Zombie Directors Should Exit U.S. Boardrooms
"Except for the fraction of cases where someone nominates a competing slate of candidates and undertakes the multimillion- dollar expense of a proxy contest, management’s nominees are routinely elected to the board. Dozens of directors continue to serve, like boardroom zombies, even after a majority of the shareholders voted against them. In the past three years, about 200 directors failed to receive majority votes. Almost all of them continued as board members."
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