Southwest Airlines changes board election rules

AP News
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Posted: Nov 20, 2009 6:40 PM

Southwest Airlines Co. said Friday it will require uncontested candidates for its board of directors to win a majority among shareholder votes cast to be elected, instead of just a plurality.

If an incumbent fails to get a majority of votes cast, he or she must tender a resignation to the board, which can reject the offer to resign, the company said in a regulatory filing.

Southwest usually holds its annual shareholder meeting in May at its Dallas headquarters.