The Association of BellTel Retirees—a group...
The Association of BellTel Retirees -- a group of retirees from Verizon Communications, Verizon predecessors Bell Atlantic, Nynex and GTE, and Verizon spinoff Idearc Media -- said Tuesday it’s pursuing two resolutions at Verizon’s next shareholder meeting that would give…
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more administrative power to the telco’s shareholders. Verizon’s annual shareholder meeting is May 1 in Phoenix. One resolution would require Verizon’s board to obtain shareholder approval for severance and termination payment packages offered to senior executives when they are above a specific threshold, the group said. A second resolution would amend Verizon’s company bylaws to allow shareholders to nominate a “limited” number of members of the telco’s board so Verizon management “will not have sole power to select all board members,” the BellTel group said in a news release. The group said it has previously won votes on three other resolutions at shareholder meetings and has negotiated eight other proposals off the ballot.