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SMALL BUSINESS
Southwest Airlines changes board election rules
AP
DALLAS -Southwest Airlines Co. said Friday it will require uncontested candidates for its board of directors to win a majority among shareholder votes cast to be elected, instead of just a plurality.
If an incumbent fails to get a majority of votes cast, he or she must tender a resignation to the board, which can reject the offer to resign, the company said in a regulatory filing.
Southwest usually holds its annual shareholder meeting in May at its Dallas headquarters.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-20 18:46:26
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