PerkinElmer amends board election rules |
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Tue, 30 Jan 2007 20:30
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BOSTON (AFX) - PerkinElmer Inc., a health and industrial sciences company, said Tuesday its board would adopt a majority voting standard for electing uncontested director candidates.The amendment will be voted on at the company's annual shareholder meeting in April.Under terms of the amendment, uncontested nominees will be elected if the number of votes for the nominee outnumbers the number of votes against the nominee.For contested elections, directors will continue to be elected by a plurality of votes.If a director is not re-elected, he is expected to resign. The board then has 90 days to decide whether to accept the resignation.The board also said shareholders must put forward the name of a director nominee at least 75 days before the first anniversary of the company's previous annual meeting.PerkinElmer shares rose 12 cents to $23.50 during afternoon trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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