Shareholders rejected a proposal that would have made it easier for shareholders to field their own candidates during board elections
Another shareholder proposal to separate the roles of the board chairman and the CEO was also defeated.
However, stockholders approved a proposal to require the board to hold a shareholder vote for any future poison pill. Also known as a stockholder rights plan, a poison pill gives a board the right to sell new shares at lower prices as a way to prevent a competing party from acquiring majority interest in the company.
Shareholders also approved a proposal linking senior executive pay to performance. HP had urged shareholders to reject both nonbinding proposals. The company said it is disappointed with the vote but vowed to "review its current policy."
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