How are individuals officially nominated as candidates for corporate board seats?

[John Paulson]

Does this occur prior to the next annual general meeting (AGM)?

I believe some companies have a nominations committee, typically comprising the board chair, vice-chair, board members etc. Do institutional investors with enough voting influence proffer names, does the nominations committee hire an outside company to present their recommendations, does the board tend to just submit their names again etc?

I understand that the nominations committee presents the initial nominees to the membership at the next available AGM, then there is a call for any further nominations from among the members present (sometimes a total of three times).

Do the proposed nominees have to be present?

I am conducting some research into this for a project, so any responses would be greatly appreciated!

 

[prophet01]

As far as I'm aware, a company's Articles of Association informs of how directors/committee members are nominated e.g.

8.4 Not less than 35 days before the issue of the notice of an annual general meeting​

the Committee shall display a notice in a prominent position on the Company's​

premises advising members of the forthcoming annual general meeting and giving​

to the members not less than 28 days in which to propose a person as a Committee​

Member. Any such proposal shall be writing signed by a proposer and a seconder​

and by the person being proposed and shall be delivered to the secretary. The​

notice of annual general meeting shall identify any persons who have been​

proposed as Committee Members in accordance with this article.​