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From Staff ReportsComment on this story
RALEIGH -
Shareholders at two publicly traded companies in the Triangle this week approved plans to elect their boards of directors annually instead of every three years.R.H. Donnelley of Cary, a Yellow Pages publisher, and Highwoods Properties of Raleigh, a real estate developer, on Friday filed details of the new plans with the Securities and Exchange Commission.Such steps improve corporate governance by allowing investors to evaluate the performance of directors more frequently and oust board members if they aren't meeting their obligations. Both companies will begin annual director elections in 2009.
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