We don't think that is the right reform. This isn't just a system designed to get rid of bad directors or run directors out. It's designed to say to every director, 'you have to get elected.' We want to make every director accountable. . . . If they know they have to get elected, that it's not a foregone conclusion, then boards become better functioning entities and more aggressive in how they do their job.
More Quotes from Ed Durkin:
Once you show that important, thoughtful companies have adopted majority voting, you could prompt a mass movement in that direction.Ed Durkin
Shareholders will be able to make better judgments about compensation, and that can translate into how you vote for directors.
Ed Durkin
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