April 29, 2020 / 2:26 PM / a month ago

Top Boeing shareholder Vanguard says it voted against chair Kellner

BOSTON, April 29 (Reuters) - Top Boeing Co shareholder Vanguard Group voted against the planemaker’s chairman Lawrence Kellner, citing “control failures” under its audit committee after two 737 MAX plane crashes, according to a stewardship report provided by a Vanguard representative on Wednesday.

Boeing on Monday disclosed a relatively high number of critical votes were cast against Kellner and other directors at its annual meeting, and said a majority of votes were cast in favor of a shareholder proposal requiring an independent board chair. Vanguard also backed that proposal, according to its report. (Reporting by Ross Kerber)

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