The board of Delek US Holdings has grown to six as a result of the company's recent purchase of 48 percent of Texas-based Alon USA Energy. Yonel Cohen, one of the Alon USA board members who stepped aside to make room for five Delek representatives, was added to the Delek board last week and will hold his seat until the company's 2016 annual meeting.
This was a tight one.
Shareholders of Community Health Systems last week voted definitively to reinstall the company's board, stick with Deloitte & Touche as the hospital operator's auditor and give a nod to its executive compensation plans. But shareholder requests to expand how the company might claw back some of its executives' compensation as well as make it easier for investors to nominate board candidates were much closer.
Earlier this spring, CHS executives had encouraged shareholders to turn down both proposals, saying the clawback push was too vague and that the proxy access proposal "advances a solution for a problem that does not exist."
In the case of the second of those proposals — advanced by the Connecticut Retirement Plans and Trust Funds — CHS barely got the negative result it wanted: With more than 99 million shares voted at the meeting, the difference between the nays and ayes was only 423,000, or 0.4 percent. Check the numbers here.
We will not be at all surprised next spring to see the Connecticut pension managers return with their plan — if it isn't quietly adopted before CHS' 2016 proxy filing deadline.
POSTDATA: WARRANTY DEEDS