Comcast Corp. shareholders today re-elected all 11 board members, each with more than 92% of the vote; adopted three other company-sponsored proposals, each with more than 96% of the vote; and defeated all five shareholder proposals, including one to have independent directors make up two-thirds of the board. The independent director proposal was defeated by 74.9% of the vote, and one calling for nomination of two directors for every open directorship lost by 93.9% of the vote. All vote tallies are preliminary.
Separately, Philadelphia-based Comcast announced that Brian L. Roberts, president and CEO, is now also chairman, replacing C. Michael Armstrong, who announced his retirement as non-executive chairman today. The $157.7 billion California Public Employees' Retirement System, Sacramento, opposed the re-election of six directors, including Mr. Roberts. The system supported the independent board proposal but opposed the nomination of two directors for open seats.
