Intel Board Adopts Majority Vote Standard for Election of Directors

Subject: General Tech | January 19, 2006 - 01:10 PM |
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ANTA CLARA, Calif., Jan. 19, 2006 — Intel Corporation announced today that its board of directors has amended the company's bylaws to adopt a majority vote standard for the election of directors in uncontested elections, beginning with the next election of directors in May. The new standard, which requires each director to receive a majority of the votes cast with respect to that director, further underscores Intel's focus on corporate governance and provides for a greater level of accountability of directors to stockholders.


Previously, directors were elected under a plurality vote standard, meaning the candidates receiving the most votes would win without regard to whether those votes constituted a majority of the shares voting at the meeting. Contested elections (where there are more nominees than directors to be elected) will continue to use the plurality vote standard.


Read the whole release at Intel's Pressroom.