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Stephen Erlichman, executive director of the Canadian Coalition for Good Governance, wants shareholders to have more say in choosing board directors (JENNIFER ROBERTS FOR THE GLOBE AND MAIL)
Stephen Erlichman, executive director of the Canadian Coalition for Good Governance, wants shareholders to have more say in choosing board directors (JENNIFER ROBERTS FOR THE GLOBE AND MAIL)

New bill gives shareholders veto on board directors Add to ...

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The federal government has introduced new legislation that would fundamentally change the way corporate directors are elected in Canada, giving shareholders the right to vote against unpopular nominees.

A bill tabled Wednesday in the House of Commons proposes a new voting system that would allow shareholders to cast a ballot either for or against board members at companies that are publicly traded on a stock exchange. Nominees would only be elected if they received a majority of favourable votes, the legislation says.

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