Securities Law Prof Blog

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

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Wednesday, April 16, 2008

Washington Mutual Announces Changes at Shareholders Meeting

Washington Mutual announced at its shareholder meeting the resignation of Mary Pugh, the director who was head of the board's finance committee.  In addition, the company will revise its incentive-pay plan that did not take mortgage losses into account in calculating cash bonuses.  51% of shares voted in favor of a shareholders' request to separate the positions of chairman and CEO.  WSJ, WaMu Revises Pay Plan And a Director Resigns As Holders Press Change.

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