Home / Knowledge / News / Apparel/Garments / Cabela's adopts corporate governance enhancements
Cabela's adopts corporate governance enhancements
28
Dec '09
Cabela's Incorporated (NYSE: CAB) announced its Board of Directors amended the Company's Bylaws to implement a majority vote standard for the election of directors.

Under the new standard, in an uncontested election, each nominee for election to the Board is required to receive a majority of the votes cast in order to be elected to the Board. The new standard replaces the Company's plurality standard, which mandated that nominees receiving the most votes would be elected regardless of whether those votes constituted a majority of the shares voted at the meeting.

Under a corresponding change to the Company's Corporate Governance Guidelines, director nominees are required to submit a contingent resignation to the Chairman of the Nominating and Corporate Governance Committee of the Board that will become effective if the director does not receive a majority of the votes cast in an uncontested election and the Board accepts the director's resignation. If a director does not receive a majority of the votes cast in an uncontested election, the Nominating and Corporate Governance Committee will recommend to the Board whether to accept the director's resignation, and the Board will act on this recommendation and announce its decision and rationale behind it within 90 days from the date of the certification of the election results.

"Our Nominating and Corporate Governance Committee continually reviews and looks for ways to improve our corporate governance practices," said Tommy Millner, Cabela's Chief Executive Officer. "Adopting majority voting underscores Cabela's commitment to sound corporate governance as part of our overall goal of generating long-term value for our stockholders."

The Company also announced that it enhanced its corporate governance practices by amending the Management Change of Control Severance Agreements between the Company and its executive officers to eliminate the tax gross-up provisions which were previously included in these agreements.

Cabela's Incorporated


Must ReadView All

Courtesy: Nine West

Fashion | On 17th Jun 2018

ABG wins bid in Nine West Holdings auction

Authentic Brands Group (ABG), owner of a global portfolio of...

Courtesy: Kreussler

Textiles | On 17th Jun 2018

USDA certifies Kreussler's solvent as biobased

The US Department of Agriculture (USDA) has certified Kreussler's...

Courtesy: ITUC

Textiles | On 17th Jun 2018

Democratic space shrink & corporate greed are rising: ITUC

Shrinking democratic space for working people and unchecked corporate ...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search