Morgan Stanley Board Re-Elected

Morgan Stanley Chief Executive John Mack and all other directors were re-elected yesterday to the board by shareholders despite opposition from some pension funds dissatisfied with the firm's performance.

Also during its annual meeting, Morgan Stanley said a shareholder proposal to eliminate remaining supermajority voting provisions passed, while a proposal calling for an executive compensation advisory vote was voted down, according to preliminary results.

"Our entire board is deeply engaged and intensely focused on building value for our shareholders through this unprecedented market environment," Mack said in a statement.

"This past year has been an incredibly turbulent time in the financial markets. We've seen market disruptions and illiquidity that have impacted every firm in our industry," said Mack in a statement, adding that market conditions are unlike anything he's seen during his 40-year career on Wall Street.

Re-elected to the Morgan Stanley board were:

• Roy J. Bostock
• Erskine B. Bowles
• Howard J. Davies
• C. Robert Kidder
• John J. Mack
• Donald T. Nicolaisen
• Charles H. Noski
• Hutham S. Olayan
• Charles E. Phillips, Jr.
• O. Griffith Sexton
• Laura D. Tyson