EMC Corp., Hopkinton, Mass., will try to keep three corporate governance shareholder resolutions filed by the $19 billion Connecticut Retirement Plans, Hartford, and other institutions off its proxy statement, said Mark Fredrickson, EMC vice president-corporate communications.
He said CEO Joseph M. Tucci supports the resolutions’ objectives of having minorities and women on the board and having more independent directors, though Mr. Tucci hasn’t said he would favor a majority of independent directors. Mr. Frederickson said Mr. Tucci needs more time to implement such goals, however, since he’s only been CEO for a year. The board consists of seven white males, three of whom are independent directors.
As for the third resolution, Mr. Frederickson said EMC doesn’t want to do away with face-to-face annual meetings. He said EMC did strongly support an unsuccessful proposal in the Massachusetts Legislature that would have allowed companies to have online-only meetings, because companies should have a choice.
