Company Continues Commitment to Stockholders
CHICAGO, Oct 04, 2010 (BUSINESS WIRE) --
Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") said today that its
Board of Directors has approved amendments to the Company's by-laws to
adopt a majority vote standard for the election of directors in
uncontested elections and a director resignation policy to address
"holdover" status of incumbent directors who fail to receive the
required majority vote.
"The Board's decision is consistent with Ventas's continued focus on
strong corporate governance and its commitment to act in the best
interest of the Company's stockholders," Ventas Chairman, President and
Chief Executive Officer Debra A. Cafaro said.
Under the new majority vote standard, in an uncontested election, a
director-nominee will be elected to the Board only if he or she receives
the affirmative vote of a majority of the votes cast at the meeting.
Previously, the Company's directors were elected under a plurality vote
standard, in which the nominees with the most affirmative votes were
elected, regardless of whether those votes constituted a majority.
Ventas, Inc., an S&P 500 company, is a leading healthcare real estate
investment trust. Its diverse portfolio of nearly 600 assets in 44
states (including the District of Columbia) and two Canadian provinces
consists of seniors housing communities, skilled nursing facilities,
hospitals, medical office buildings and other properties. Through its
Lillibridge subsidiary, Ventas provides management, leasing, marketing,
facility development and advisory services to highly rated hospitals and
health systems throughout the United States. More information about
Ventas and Lillibridge can be found at www.ventasreit.com
and www.lillibridge.com.
SOURCE: Ventas, Inc.
Ventas, Inc.
David J. Smith, (877) 4-VENTAS