Teamsters Lead Way for Director Accountability at Con-Way

Shareholders Approve Teamsters Proposal to Hold Annual Elections for Entire Board of Directors 


WILMINGTON, Del., April 22  /PRNewswire-USNewswire/ -- Today, a Teamster shareholder proposal calling on the Board of Directors of Con-Way, Inc. [NYSE: CNW] to amend the company's governance documents to declassify board of director elections by providing that all director nominees take part in annual elections received support from both a majority of the shares cast as well as the shares outstanding in the Company.

At Con-Way's Annual Shareholders Meeting, the Company reported that 60% of the shares cast supported the Teamster-proposed corporate governance, or approximately 53% of Con-Way's outstanding shares.

"We are pleased to see Con-Way shareholders stand up for this important reform," said C. Thomas Keegel, General Secretary-Treasurer of the International Brotherhood of Teamsters.  "By holding annual elections shareholders will have an enhanced ability to evaluate the performance of their elected representatives to the Con-Way Board. A majority of shareholders have voted for Board accountability and we will be watching intently to see if the Board adopts this important reform."

Founded in 1903, the International Brotherhood of Teamsters represents more than 1.4 million hardworking women and men throughout the United States, Canada and Puerto Rico. 

DATASOURCE: International Brotherhood of Teamsters



CONTACT:  Galen Munroe of the International Brotherhood of Teamsters,

[phone], 



Web Site:  http://www.teamster.org/ 

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