CANADA: SWP eyes governance changes to enhance flexibility
The agribusiness giant Saskatchewan Wheat Pool's (SWP) board of directors is asking its delegates to consider changes that would move control of certain elements of its corporate governance out of provincial legislation and into SWP's Bylaws. Currently, provisions for the election of directors and restrictions on Class B ownership are included in The SWP Act, 1995. The board has formally recommended that delegates petition the provincial government to move these provisions into the Bylaws. In order to proceed with the petition, two-thirds of delegates must approve both of the recommendations, and a further two-thirds of Class B shareholders must approve moving the provision respecting ownership restrictions.
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