State Street Amends Corporate Governance Guidelines for Election of Directors
October 20 2005 - 5:31PM
Business Wire
State Street Corporation (NYSE:STT) announced today that its Board
of Directors has amended the Company's Corporate Governance
guidelines regarding the election of directors. Under the amended
Corporate Governance guidelines, any director or nominee who
receives a "withhold" vote from a majority of the outstanding
shares in an uncontested election of directors will be required to
submit his or her resignation to the Board of Directors. The
resignation would be considered by the Board's Nominating and
Corporate Governance Committee, which would then make a
recommendation to the Board on action to be taken regarding the
resignation. State Street's Corporate Governance guidelines, as
amended, can be found on the Company's website at
www.statestreet.com/company/corporate_governance/guidelines.html#0
State Street Corporation (NYSE: STT) is the world's leading
specialist in providing institutional investors with investment
servicing, investment management and investment research and
trading. With $9.8 trillion in assets under custody and $1.4
trillion in assets under management as of September 30, 2005, State
Street operates in 25 countries and more than 100 geographic
markets worldwide. For more information, visit State Street's web
site at www.statestreet.com
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