RIM Avoiding Appointing Independent Chair, Glass Lewis Says
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Research In Motion Ltd.’s decision to study the overhaul of its management structure to avoid a shareholder vote next week indicates it’s avoiding a commitment to appoint an independent chair, Glass Lewis & Co. said.
“The appointment of independent board leadership does not require further study, but rather concrete action,” Dimitri Zagoroff and Marian Macindoe, analysts with the San Francisco-based proxy adviser firm, wrote in a report. Glass Lewis advises investors that manage more than $15 trillion on proxy voting.