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Microsoft will let shareholders nominate board members
Microsoft added a provision to its bylaws Friday that allowed shareholders with a significant stake in the company to directly nominate up to two candidates to its board of directors.With the change, Microsoft will allow consortiums of up to 20 shareholders, who have owned a combined 3 percent stake in Microsoft for the past three years, to put forward nominations for up to 2 candidates or 20 percent of the board, whichever is larger. Functionally, that means a very small number of people and institutional investors have the power to nominate board members through the process.To read this article in full or to leave a comment, please click here