Zombies on Board: Investors Face the Walking Dead
- Fifty-four “zombie directors” currently haunt the boardrooms of 32 U.S. companies — continuing to serve this year despite having failed to win support by a clear majority of shareholders.
- Dissatisfaction with CEO pay was highly correlated to a majority of these companies.
- Plurality-based voting standards enabled most of these directors to serve, but majority voting requirements without binding resignation policies were also sometimes involved, allowing boards to override shareholder votes.
