The declassification of the board, if shareholders approve, would subject directors at the insurance broker to annual election as existing three-year terms expire. Stephen R. Hardis, chairman, said, "The decision to declassify is the latest step in the board's ongoing effort to implement best corporate governance practices at MMC."
Marsh Proposing to Change Board Structure
Marsh & McLennan Cos. is proposing to eliminate the current three-class structure of its board.
Published on February 15, 2008
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