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Big Investors Want Directors to Stop Sitting On So Many Boards

4-traders : one website, all markets

Giant money managers voted against the re-election of Ronald Havner, Jr. in May to the board of a real-estate company. Their reason: He runs a different company and sits on two other boards. After about 56% of voting shares were cast against Mr. Havner remaining an AvalonBay Communities Inc. director, he said he would resign, an offer rejected by the rest of the AvalonBay board...

Mentions: National Association of Corporate Directors Corporate Governance Investors