The majority vote movement rolling across Corporate America hit a few bumps last week as Hewlett-Packard and two other corporations rejected the idea at annual meetings, but governance watchdogs say the reform will continue to spread this proxy season.
HP’s non-binding resolution to impose a majority vote requirement for election to its board of directors fetched only 43 percent support last week. A similar measure at Analog Devices received 38 percent support, and yet another at Ciena Corp. won only 31 percent.
