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Walmart shareholders to vote on employees for board seats

May 27, 2020, Roll Call

Reid Hooper is quoted in Roll Call regarding rules and regulations companies should take into account when considering those for seats on its board of directors. Independence would be a concern for companies in appointing a non-management employee to the board. He notes that stock exchange rules require boards to be majority independent, and that non-independent directors would be limited from serving on certain board committees.

Public companies typically need directors to bring a level of experience, including on other public company boards, and knowledge of financial information that a worker might not possess, he adds.

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