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CA board amends election rules


Published : Thu, 01 Mar 2007 00:29
By : Agencies
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ISLANDIA, N.Y. (AP) - Management software company CA Inc. said Wednesday its board of directors amended the company bylaws to include a majority voting standard.

The move means that an uncontested director nominee will only be elected if the number of votes cast for him or her exceeds the number cast against their position. The standards became effective Feb. 23.

Previously, directors were elected based on receiving the most votes regardless of whether it constituted a majority of shares being voted.

Shares of CA fell 15 cents to close at $26.04 on the New York Stock Exchange.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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