Hardis To Lead Marsh Board

Marsh also has announced that shareholders have rejected 2 shareholder proposals.

One proposal would have required that board members receive a majority of votes cast, rather than a plurality, and another would have required detailed reporting of Marsh’s political contributions.

Marsh urged shareholders to vote against both proposals.

Marsh is incorporated in Delaware. Because of quirks in Delaware law, requiring board members to receive a majority of votes cast would make ejecting an unpopular director more difficult than the current plurality vote requirement, according to Marsh.

Under the current rules, Marsh can demand the resignation of a director who receives more “withheld” votes than “for” votes, the company says.

Marsh says the political contribution reporting proposal was unnecessary because the company makes only modest contributions and records of the contributions are subject to public disclosure rules.