Vulcan shareholders reject board changes at annual meeting
Vulcan Materials shareholders on Friday rejected three proposed board changes at the company’s annual investors meeting in Birmingham, Alabama, according to the Birmingham Business Journal.
The shareholders voted against declassifying Vulcan’s board, eliminating super majority voting and requiring an independent director to serve as board chairman.
The first two proposals received favorable votes at last year’s meeting but had no such luck this year. Despite its opposition to the two proposals last year, the board supported the changes this year, recommending approval to the shareholders.
While the majority of shareholders voted against the third proposal, preventing the board change, 36 percent supported it. Vulcan CEO Don James currently holds the board chairman position.
Though the shareholders rejected the changes to the board, they approved several other changes at the meeting. They reelected directors Douglas McGregor, Lee Styslinger III and Vincent Trosino. Shareholders also approved executive compensation and rehired Vulcan’s auditing company.
From our partners
Developing a solid relationship with Demolition Technologies Specialized Services enables Crushing Tigers and Sandvik Construction to impact the demolition and…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- Atlanta turning quarry into one of America's largest reservoirs1063 Views
- CRH continues to eye large deals to grow the Irish aggregate company485 Views
- Controversial quarry granted permit by Indiana Department of Natural Resources434 Views
- VIDEO: World conference discusses Lafarge-Holcim merger414 Views
- The final Waters of the U.S. rule has been released to the Federal Register336 Views