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0 -0.000272034820457158 -0.000544069640914122 -0.00108813928182824 0.00108813928182805 0.00108813928182805 0.00108813928182805 0.00108813928182805
Stock impact report

Tejon Ranch Co. unveils special-meeting proposal as it posts lower earnings [Yahoo! Finance]

Tejon Ranch Co (TRC) 
US:NYSE Investor Relations: ir.tejonranch.com
Company Research Source: Yahoo! Finance
The Lebec-based agribusiness and real estate development company said the plan, variations of which have been floated by individual shareholders in recent years, will be put up for a vote of investors at this year's annual meeting on May 13. Coming on the same day as Tejon Ranch posted sharply lower earnings, the proposal follows company directors' move earlier this month to shrink their membership by 30% to seven and dissolve the company's executive committee. As part of that, Tejon Ranch's former CEO will step down, along with its longtime chairman, following next year's annual meeting. News of those changes was greeted by a nearly 8% increase in the company's stock price. A proponent of giving shareholders the right to call a special meeting, Grover Wickersham, said by email he had hoped the investor vote threshold would be set no higher than 20%, after an earlier proposal to make it 10% narrowly failed to gain shareholder approval last year. He called the latest proposal Show less Read more
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