Daily News

View All News

Hudson Global proposes governance changes

November 13, 2014

Hudson Global Inc. (NASD: HSON) plans to propose governance changes at its 2015 annual meeting of stockholders, the New York-based professional staffing firm announced today. The meeting is expected to be held in April or May of 2015.

The proposed governance changes, which were approved by the company’s board of directors on Oct. 28, and remain subject to stockholder approval, are:

  • Accelerate the declassification of the board of directors so that all director positions will be up for annual election beginning at the 2016 annual meeting of stockholders
  • Eliminate all supermajority voting requirements and change the vote level required for approval to a simple majority
  • Allow holders of at least 30 percent of the company's outstanding stock to call special meetings of stockholders
  • Allow stockholders to take action on any matter without a meeting or a vote, as long as there is written consent by holders of the minimum level of shares required for that action

“As part of its regular review of the company’s governance practices, Hudson’s board has determined that there are certain changes we want to make to ensure that our governance is consistent with current best practices in the United States,” said Chairman and CEO Manolo Marquez. “We believe that the changes we are proposing today are in the best interests of our stockholders and good governance principles.”

Hudson had been working with an investor group earlier this year to avoid a proxy battle.