Home Depot Inc. shareholders voted a majority of shares in favor of a proposal calling for the election of directors by a majority vote, according to David Sandor, spokesman for the Atlanta company. The proposal was sponsored by the $558 million United Brotherhood of Carpenters and Joiners of America Pension Fund, Washington.
Shareholders defeated a proposal sponsored by the $800 million AFSCME Employee Pension Plan, Washington, calling for an annual shareholder advisory vote on the company's executive compensation report. The $209 billion California Public Employees' Retirement System, Sacramento, actively solicited support of other shareholders for the compensation report proposal.
All other shareholder proposals were also defeated, and all directors were elected, according to a statement from the company. The board will take the vote in favor of majority voting under consideration, Mr. Sandor said in a statement.
All results are preliminary. A tally of the voting wasn't available.