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Honeywell Board Amends Governance Guidelines
Jessica Perry//December 12, 2005
The company will have an easier time managing its roster of directors.Honeywell (NYSE: HON) announced today that its board of directors has amended the company”s corporate governance guidelines to make it easier to jettison directors. Under the new rules, any director nominee who receives more “withheld” votes than “for” votes in certain elections will have to promptly turn in his or her resignation to the corporate governance and responsibility committee, which will review it and recommend whether or not to accept the resignation.
Headquartered in Morris Township, Honeywell is a $26 billion technology and manufacturing company. This Dow component rose $0.33 to $36.04 in early trading against a flat performance for the blue-chip index.
