The Home Depot's Board adopt majority vote standard for election
29 Aug '06
2 min read
To address this potential outcome, the board has also adopted a director resignation policy in the Company's bylaws. If an incumbent director is not elected by a majority of the votes cast, the director shall offer his or her resignation to the board.
The Nominating and Corporate Governance Committee would then make a recommendation to the board on whether to accept or reject the resignation, or whether other action should be taken. The board would then publicly disclose its decision within 90 days after the certification of the election results.
The Home Depot is the world's largest home improvement specialty retailer, with 2,082 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, 10 Canadian provinces and Mexico.
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