Sparton will hold its annual meeting in Schaumberg IL on October 27, 2010. Proposals to be voted on include two that further improve Sparton’s corporate governance to best practices as follows:
- Proposal #3 includes the adoption of a Majority Voting standard for election of directors, and
- Proposal #4 includes the de-classifying (de-staggering) of Sparton’s board where all directors will be elected annually for 1 year terms, starting in 2011.
Lawndale Capital Management, Sparton’s largest shareholder, will be voting FOR both of these good governance proposals. Both deserve the support of all shareowners. (Disclosure: Publisher James McRitchie is an investor in Diamond A Investors L.P., a group member with Lawndale Capital Management Inc.)