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Ventas Adopts Majority Vote Standard for Election of Directors


//business-finance.news-articles.net/content/201 .. ity-vote-standard-for-election-of-directors.html
Published in Business and Finance on by Market Wire   Print publication without navigation


CHICAGO--([ BUSINESS WIRE ])--Ventas, Inc. (NYSE: VTR) (aVentasa or the aCompanya) said today that its Board of Directors has approved amendments to the Companya™s by-laws to adopt a majority vote standard for the election of directors in uncontested elections and a director resignation policy to address aholdovera status of incumbent directors who fail to receive the required majority vote.

"The Boarda™s decision is consistent with Ventasa™s continued focus on strong corporate governance and its commitment to act in the best interest of the Companya™s stockholders"

aThe Boarda™s decision is consistent with Ventasa™s continued focus on strong corporate governance and its commitment to act in the best interest of the Companya™s stockholders,a Ventas Chairman, President and Chief Executive Officer Debra A. Cafaro said.

Under the new majority vote standard, in an uncontested election, a director-nominee will be elected to the Board only if he or she receives the affirmative vote of a majority of the votes cast at the meeting. Previously, the Companya™s directors were elected under a plurality vote standard, in which the nominees with the most affirmative votes were elected, regardless of whether those votes constituted a majority.

Ventas, Inc., an S&P 500 company, is a leading healthcare real estate investment trust. Its diverse portfolio of nearly 600 assets in 44 states (including the District of Columbia) and two Canadian provinces consists of seniors housing communities, skilled nursing facilities, hospitals, medical office buildings and other properties. Through its Lillibridge subsidiary, Ventas provides management, leasing, marketing, facility development and advisory services to highly rated hospitals and health systems throughout the United States. More information about Ventas and Lillibridge can be found at [ www.ventasreit.com ] and [ www.lillibridge.com ].


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