Loews Adopts Majority Voting for Directors

Holding company Loews Corp., in a regulatory filing Tuesday, has amended its by-laws so directors will now be elected by a majority vote, rather than a plurality vote, the Associated Press reported yesterday.

The company was previously using a plurality vote standard, from which directors are elected by receiving the most votes, regardless of whether or not they win a majority, the article said.

Meanwhile, Loews, said its board should comprise seven to 15 directors with the exact number to be decided upon by the board. With 10 directors, the board currently fits that parameter.