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
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- MSHA Fatality Review Committee determines several fatalities are chargeable to the mining industry342 Views
- Lower oil prices send mixed signals to frac sand producers262 Views
- Kingsteps Quarry in Scotland will be examined for the remains of World War II planes221 Views
- Holcim and Lafarge nominate candidates for merged company’s board of directors198 Views
- PHOTOS: Caterpillar: Modern Earthmoving Marvels traces equipment evolution166 Views