Summary
Cardinal Health, Inc. (CAH) filed an 8-K on November 4, 2010, reporting on its 2010 Annual Meeting of Shareholders held on November 3, 2010. The primary focus of the report details the voting outcomes on several key proposals presented to shareholders. Notably, all 12 director nominees were elected, and the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2011, was ratified with overwhelming support. However, the filing also indicates that shareholders rejected several shareholder-proposed resolutions, including those related to performance-based stock options, requiring an independent Chairman of the Board, and special shareholder meetings. An amendment to the Company's Restated Code of Regulations granting the Board of Directors the authority to amend it was approved.
Key Highlights
- 1All 12 director nominees were overwhelmingly elected to serve until the 2011 annual meeting.
- 2Ernst & Young LLP was ratified as the independent registered public accounting firm for fiscal year 2011 with substantial shareholder approval.
- 3Shareholders approved an amendment to the Restated Code of Regulations, empowering the Board of Directors to amend it.
- 4A shareholder proposal for performance-based stock options was not approved.
- 5A shareholder proposal to require an independent Chairman of the Board was not approved.
- 6A shareholder proposal for special shareholder meetings also failed to gain approval.
- 7The filing confirms the company held its annual shareholder meeting on November 3, 2010.