Request for Rulemaking To Amend Rule 14a-8(i) To Allow Shareholders Proposals To Elect Directors
File No. 4-461
The following information on Type Letter B, or variations thereof, was submitted by 5 individuals.
Subject: Proxy Voting
Form Type Letter B:
Dear Mr. Katz: I am writing to express my STRONG support for the Rulemaking Petition proposal maded by The Committee of Concerned Shareholders and James McRitchie. It has become ever more clear in the past year that corporate boards of directors are far too often "rubber stamps" for the CEO. Increasingly nominees to these boards consist of friends and/or business associates of the CEO, and the first act upon disagreement by any current board member is to remove that individual from the "nominee" list at the next shareholder meeting. I would direct you to the immediate announcement that Walter Hewlett would not be nominated for re-election to the Hewlett-Packard Board of Directors after the merger with Compaq had taken place. While I have no comments regarding this highly publicized merger "debate," I do find it a classic example of CEO's and Boards of Directors acting to remove dissenting voices from their ranks. I would plead you recognize the real need for shareholders to have this avenue available to them in order that they may exercise their "rights" and concerns as the TRUE OWNERS of the coporation(s) they have invested in.