MILWAUKEE--Rockwell Automation, Inc. (NYSE: ROK) today announced that its board of directors amended Rockwell Automation’s by-laws to allow eligible shareowners to have their own director nominees included in the company’s proxy statement for the annual meeting. The board proactively adopted these amendments after careful consideration of proxy access trends and company discussions with some of its largest shareowners.
“Good governance is an important part of our corporate culture,” said Donald R. Parfet, lead independent director for the Rockwell Automation board. “We value the views of our shareowners and consider their feedback when establishing and evaluating appropriate policies and practices. We decided to adopt contemporary proxy access provisions in our by-laws as we evolve Rockwell Automation’s governance practices.”
Under the amendments a shareowner, or a group of up to 20 shareowners, owning at least three percent of Rockwell Automation’s outstanding common stock continuously for three or more years, may submit director nominees for up to 20 percent of the board. The nominating shareowners and nominees must satisfy the requirements specified in the by-laws.
Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis., Rockwell Automation employs approximately 22,000 people serving customers in more than 80 countries.