Directors have traditionally been elected by a plurality of the votes cast. This means that in uncontested elections, a candidate who receives even a single vote is elected. Proponents of "shareholder democracy" have advocated a shift to a majority voting rule in which a candidate must receive a...

"Having served on numerous corporate and nonprofit boards, former business school dean and university president White has a surprising message--many directors don't understand their roles as stewards. Rather than seeing boards as mere vehicles for oversight and basic monitoring, he shows, in...