Dell Adopts Majority Voting for Director Elections.ROUND ROCK, Texas -- The board of directors of Dell (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DELL) today strengthened the company's corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. framework by amending bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an regarding the election of directors. Under the new majority vote standard -- which replaces plurality The opinion of an appellate court in which more justices join than in any concurring opinion. The excess of votes cast for one candidate over those votes cast for any other candidate. Appellate panels are made up of three or more justices. voting for uncontested director elections -- a nominee for a seat on the board must receive favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. votes from holders of a majority of the shares entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to vote. In contested elections, directors will continue to be elected by plurality vote. The board also revised the company's corporate governance principles to implement the majority vote standard. Under the revised principles, an incumbent director who does not receive the required majority vote for re-election will be required to tender a resignation. The board will accept or reject the resignation, or take other appropriate action, based on the best interests of Dell and its stockholders, and will publicly disclose its decision and rationale within 90 days. About Dell Dell Inc. (NASDAQ:DELL) is a trusted and diversified information technology supplier and partner, and sells a comprehensive portfolio of products and services directly to customers worldwide. Dell, recognized by Fortune magazine as America's most admired company and No. 3 globally, designs, builds and delivers innovative, tailored systems that provide customers with exception value. Company revenue for the last four quarters was $54.2 billion. For more information about Dell and its products and services, visit www.dell.com. Dell is a trademark of Dell Inc. Dell disclaims any proprietary interest in the marks and names of others. |
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