Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Maytag to Elect Board of Directors Annually
Mar 15, 2005
 Printable format
 Email this Article
 Search

The board of directors of Maytag Corporation approved amending the company's bylaws to provide that directors be elected on an annual basis. This amendment is subject to shareholder approval.

Currently, Maytag's board operates as a "classified" board, meaning three or four directors are elected each year for a 3-year term, thus staggering the terms. If the bylaw amendments are approved by shareholders, the board would be "declassified" with directors being elected each year for a 1-year term. Maytag shareholders will be asked to vote on this proposal at the annual meeting, which is scheduled for May 12. Proxy materials related to the meeting are expected to be mailed to shareholders on or about April 4.

The board's action is in response to previous shareholder votes requesting that the board be declassified. "The board has listened and responded to its shareholders who believe this change is in the best interest of the company," said Ralph F. Hake, Maytag chairman and CEO. "While the board believes that classifications of directors promoted continuity and stability on the board, careful consideration was given to all relevant factors including our shareholders' wishes. Given this, the board supports the change and will urge our shareholders to approve these amendments."

If at least two-thirds of the shares outstanding approve the amendments at the May 12 meeting, the four directors who are nominated for election in 2005 will be elected for 1-year terms. Directors not up for re-election this year will serve the remainder of their 3-year terms.

Back to Daily News

 

Daily News

...........................................................

Jul 25, 2014: Whirlpool Refrigerator is First Commercial Application of Polyurethane Insulation Using HFO Blowing Agent

Jul 24, 2014: Remodeling Spending to Be Slower, But Still Strong, in Early 2015

Jul 23, 2014: Whirlpool North America Reports Record Operating Profits

Jul 23, 2014: Japan Destroyed 3.6 Million KG Fluorocarbons from Commercial Refrigerators and AC

Jul 22, 2014: Lennox International Reports Record Profit in Second Quarter

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows