Posted on June 16, 2005On June 7, the shareholders of General Motors nearly voted to adopt proportional voting for future elections for the Board of Directors. Almost 49% of shareholders supported cumulative voting over the current winner-take-all system. The proposal for cumulative voting won the highest percentage of the vote of any non-board-recommended measure in GM history.
A cumulative voting system would allow a minority of like-minded shareholders to elect at least one board member by concentrating their votes on a single candidate, ensuring a more accurate representation of shareholder interests in board decisions.
[Read FairVote's press release on GM’s shareholder vote]
[Read more on GM’s shareholder meeting]
[More on cumulative voting]