Best Buy Co., Inc. (BBY: Quote) said Thursday that the company's shareholders re-elected Lisa Caputo, Kathy Higgins Victor and Gerard Vittecoq as directors in the 2012 annual meeting.
Also in the meeting, shareholders approved a non-binding shareholder proposal requesting the board to take action to declassify its structure and require every director to stand for reelection on an annual basis.
The nonbinding advisory "Say on Pay" proposal regarding the fiscal 2012 compensation of Best Buy's named executive officers, however, received a no from the shareholders.
The board also implemented a change to the company's bylaws that will conform them to Minnesota statutes by setting 25 percent as the minimum threshold of ownership required for a shareholder to call a special meeting related to a change of control.
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by RTT Staff Writer
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