Dollar Tree shareholders OK annual elections

Shareholders at Dollar Tree Stores Inc. approved at the annual meeting Thursday a non-binding proposal to hold annual elections for board members, confirmed Dollar Tree spokesman Timothy Reid. The $245.4 billion California Public Employees’ Retirement System, Sacramento, made the proposal, arguing the previous staggered election structure made it difficult to make changes to the board. Stock of the Chesapeake, Va.-based retailer underperformed its peers by a cumulative 13.9% for the five years ended April 30, according to a CalPERS release issued earlier this month.