LSI Logic revises governance policy |
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Published
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Sat, 10 Mar 2007 01:01
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MILPITAS, Calif. (AP) - Data storage chip developer LSI Logic Corp. said Friday it has revised its corporate governance policy regarding board elections.Under the revision, any nominee who receives more 'withheld' votes than 'yes' votes is required to submit a letter of resignation to the board's Nominating and Corporate Governance Committee.The committee will consider the resignation letter and recommend to the board what action should be taken.Shares of LSI rose 7 cents to close at $9.79 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 This material may not be published, broadcast, rewritten, or redistributed.
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