Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, April 10, 2007

Glass Lewis Calls on Times Shareholders to Withhold Votes

Proxy advisor Glass Lewis & Co. joins ISS in urging the Class A shareholders of the New York Times to withhold their votes from directors in a show of dissatisfaction with the newspaper company's dual class stock structure that perpetuates control by the Sulzberger-Ochs trust.  Glass Lewis specifically calls for a separation of the positions of chairman and publisher (both held by Arthur Sulzberger) and for a majority of directors on the compensation committee to be elected by Class A stock.  See NYTimes, 2nd Group Urges Withholding Times Co. Vote.

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