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TESSCO Technologies Inc. Message Board

  • djenkin3 djenkin3 Feb 6, 2010 9:40 AM Flag

    Proposal for board of director terms

    Great proposal. Board of directors need to answer to what is best for shareholders...not their own self interest.

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    • "Tessco Technologies’ largest shareholder is urging other owners to require all company directors to stand for election annually.

      Discovery Group, a Chicago investment firm, argues that the Hunt Valley technology company’s current policy of three-year staggered terms for directors is bad corporate governance.

      Discovery submitted a shareholder proposal to be voted on at the company’s annual meeting this summer.

      Discovery made a similar effort at Tessco’s 2009 annual meeting. Three-fourths of shareholders voted to recommend the company abolish an anti-takeover mechanism, but the board of directors has kept it in place."

      I hope most everyone here agrees with Discovery.

      I cannot understand why if 75% of stockholders voted to abolish the anti-takeover mechanism, it has not been done, yet. Vote the Board out!!

 
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