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New York Times Shareholders Urged To Withhold Votes
The public shareholders are getting restless.A major shareholder advisory firm, Institutional Shareholder Services, is urging investors to withhold their votes for four directors at The New York Times Co. as a way to push for corporate governance changes. "Shareholders are left with few avenues through which to voice their opinion other than by withholding from Class A directors," the ISS said in its report. "While we do not advocate removal of the Class A directors, we believe that a strong message to effect change is necessary." The Times declined to include a shareholder proposal from the Morgan Stanley fund that would have called for putting the company's dual-class share structure to a vote. That structure can only be changed by the Sulzberger family, and they have said they don't intend to do so. Posted by: Glenmore 2007-04-06 |
| http://www.rantburg.com/poparticle.php?ID=185094 |