(Reuters) - ISS said the boardmembers did not act on a shareholder proposal to adopt a simple majority vote, even though the proposal received a clear mandate from shareholders for two consecutive years.
"Effective corporate governance depends upon the board being accountable to shareholders," ISS said in its April report. "Such failure or unwillingness to respond to the desires of shareholders warrants withholding votes from directors at the 2007 annual meeting."
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