GREY:TBTEF - Post by User
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lightscamon Feb 10, 2017 4:29pm
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Post# 25830954
now progress energy knew what they were talking about
now progress energy knew what they were talking about Progress Energy Trust Elect directors (slate) Meeting date: 1 May 2008 Shareholder vote: 2.1% withheld SHARE does not normally recommend voting against directors because they serve on more than a certain number boards. The number of boards a director can serve on effectively depends on that individuals abilities. We prefer to assume that responsible directors will not take on more board commitments than they can handle and to vote against those whose performance or attendance indicates otherwise. However, there may be circumstances in which it is in shareholders interests to make exceptions to this guideline. John Brussa, a member of Progress Energy Trusts board, sits on the boards of more than 20 publicly traded companies and trusts. Although SHARE does not usually vote against directors for sitting on too many boards, Mr. Brussas case is extreme. It is highly unlikely that anyone can represent shareholders interests effectively while serving on so many boards. Progresss board also has an executive serving as the Chair. Since shareholders could not vote on individual directors at this company, SHARE voted withhold for the entire board. Performance of