MasterCard Shareholders Approve New Structure, Pave Way for IPO
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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.
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