With every passing week, the majority vote movement appears to gain momentum. In fact, nearly every few days, another company voluntarily joins the growing ranks of companies that have agreed to amend their corporate governance guidelines to stipulate that if the majority of votes cast are “withheld” for a director in an uncontested election, that director would be required to submit his or her resignation for consideration by the Nominating and Governance Committee. That committee would then be required to make a recommendation to the full board whether the resignation should be accepted.
