US - The parent company of Mercer, Marsh & McLennan Companies (MMC), has proposed an overhaul of the governance structure of its board of directors, seeking an end to the three-class structure and forcing all directors to stand for annual re-election as their existing three-year terms expire.
MMC said it would put proposals out for shareholder approval during the proxy statement, with a decision to be taken at the company's general meeting in May. Stephen Hardis, chairman of the board...
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