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Comptroller Stringer: “zombie directors”

June 6, 2014

WSJ: “Oil-Driller Nabors Ignores Vote on Directors” by Daniel Gilbert:

A majority of votes cast by shareholders of Nabors Industries Ltd. rejected all three members of the board’s compensation committee, but the drilling company chose to disregard the rebuke.

AND

Some stakeholders said Nabors must do more. “Shareowners weren’t fooled by the proxy access bait-and-switch of an unaccountable board comprised of a growing number of zombie directors,” said Scott Stringer, New York City’s comptroller.

zombie scott stringer comptroller

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