Nordstrom Adopts Majority Vote Standard
New York City, Nordstrom Inc. said Friday it is implementing a majority vote standard for board members in uncontested elections. The new voting standard replaces the plurality standard, under which candidates who receive the most votes win, regardless of whether they received a majority of votes, the company said in a filing with the Securities and Exchange Commission.
Directors who do not receive the majority of votes are expected to resign from the board. The company said it will still use the plurality standard if the number of nominees exceeds the number of directors to be elected.
The company also changed the size of the board from a fixed number of directors—it had been nine—to a range of nine to 12 directors.