Morgan Stanley Shareholders Vote Down Independent Chairman
29 Avril 2009 - 4:24PM
Dow Jones News
Morgan Stanely (MS) shareholders rejected a plan on Wednesday
that would have created an independent chairman of the board, a
position that is currently held by Chief Executive John J.
Mack.
The bid to split the chairman and CEO position was voted down by
a majority of shareholders, according to the company. A similar
vote was also being put to Bank of America Corp. (BAC) shareholders
at a meeting Wednesday in Charlotte.
In addition, shareholers also voted to re-elect 11 directors and
elect a new director from Mitsubishi UFJ Financial Group Inc.
(8306.TO), which last year acquired a stake in Morgan Stanley.