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3/8/2016 11:40:00 AM Write a Letter to the Editor Write a letter to the Editor

FedEx Adopts Bylaws Change Sought by Shareholders


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FedEx Corp. directors on March 8 adopted a bylaws change sought by shareowners to make it easier to promote candidates for the board.

The change was in response to shareholder approval last September of a nonbinding resolution that the sponsoring International Brotherhood of Teamsters described as an accountability measure.

The new provision says up to 20 stockholders who have continuously owned at least 3% of outstanding voting stock for three years can nominate up to two directors or 20% of the board, whichever is greater. The board is permitted to have up to 15 directors.

FedEx ranks No. 2 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.

By Wayne Risher
The (Memphis, Tenn.) Commercial Appeal

 

Distributed by Tribune Content Agency, LLC.



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