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Wed, February 29, 2012
Visteon Corporation Board Adopts Majority Vote Standard for Election of Directors
Visteon Corporation Board Adopts Majority Vote Standard for Election of... -- VAN BUREN TOWNSHIP, Mich., Feb. 29, 2012 /PRNewswire/ --
Visteon Corporation Board Adopts Majority Vote Standard for Election of Directors
VAN BUREN TOWNSHIP, Mich., Feb. 29, 2012 /PRNewswire/ -- Visteon Corporation (NYSE: [ VC ]) announced today that its board of directors has amended the company's bylaws to adopt a majority voting standard for the election of directors. The new standard is effective immediately and will apply to all future elections.
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The company's new majority vote standard requires each nominee for election to the board to receive a majority of the votes cast to be elected to the board. Previously, under a plurality standard, candidates receiving the most votes were elected, regardless of whether those votes constituted a majority. Plurality voting still will apply in contested elections, where the number of director candidates exceeds the number of director positions available.
Visteon is a leading global automotive supplier that designs, engineers and manufactures innovative climate, electronic, interior and lighting products for vehicle manufacturers. With corporate offices in Van Buren Township, Michigan. (U.S.); Shanghai, China; and Chelmsford, UK; the company has facilities in 27 countries and employs approximately 26,000 people. Learn more at [ www.visteon.com ].
SOURCE Visteon Corporation
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