General Electric will allow shareholders to nominate their own corporate directors, becoming one of the few companies to adopt proxy access reforms in a move that could pave the way for others.
The company said the new bylaws, which went into effect February 6, will allow a single shareholder or a group of up to 20 shareholders who own more than 3 per cent of the company's stock for at least three years to nominate up to 20 per cent of the board's directors.
