CHICAGO May 6 CVS Caremark Corp (CVS.N)
shareholders voted on Wednesday to allow certain holders to
call special meetings and give holders an advisory vote on
The drugstore and pharmacy benefits manager said the votes
are not binding, but the company would consider whether the
proposals were in its best interest.
Based on a preliminary tally, a majority of shareholders at
CVS's annual meeting voted in favor of allowing holders of at
least 10 percent of its common stock to call special meetings.
A majority also voted in favor of giving shareholders an
advisory vote on executive compensation.
CVS held its annual meeting on Wednesday in Woonsocket,
Rhode Island, a day after it posted a better-than-expected
first-quarter profit. [ID:nBNG491584]
The company said shareholders rejected a proposal asking
for CVS to designate an independent chairman. CVS Chief
Executive Tom Ryan also serves as chairman and president.
Shareholders also rejected a proposal asking for a report
on political contributions and expenditures, CVS said.
CVS said its board's nominating and corporate governance
committee, and other committees, as appropriate, would consider
the voting results on all of the shareholder proposals.
Shares of CVS slipped 11 cents to $31.69 in afternoon
trading on the New York Stock Exchange.
(Reporting by Jessica Wohl; Editing by Derek Caney)