Alaska Air Group Board Adopts Shareholder Right To Call Special Meetings
SEATTLE - Alaska Air Group's board of directors today announced it has voted to amend the company's bylaws to adopt a shareholder right to call special meetings. Effective immediately, the amendment allows shareholders collectively owning at least 10 percent of Alaska Air Group's shares to call a special meeting.
A shareholder right to call special meetings has been the subject of shareholder proposals in two of the past four years. In 2007, the proposal was defeated, and in 2009, the proposal passed.
"Although our shareholders were in favor of the concept of the right to call a special meeting, there has been mixed opinion about the appropriate threshold of ownership for calling such a meeting," said Keith Loveless, Alaska Air Group's corporate secretary. "As a result of recent discussions with some of our top shareholders, shareholders will now have the right to call special meetings if the 10 percent ownership threshold is met."