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MasterCard Shareholders Approve New Structure, Pave Way for IPO

by Peter Andrew

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MasterCard

Shareholders Approve New Structure, Pave Way for IPO

MasterCard

announced Monday that its shareholders had overwhelmingly approved

the previously proposed organizational structure that would

pave the way for MasterCard to go public.

MasterCard

announced in August a plan for a new corporate governance and

ownership structure, including the appointment of a new Board

of Directors comprised of a majority of independent directors,

the transition to a publicly traded company, and the establishment

of a charitable foundation which will hold 10% of the company's

shares.

Each of the proposals was approved by over 94% of the votes

cast except for the incentive plan proposal, which was approved

by over 91% of the votes cast.

 

Published 11/30/05 (Modified 05/07/12)


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