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DEL.ICIO.USEquifax weathering economic storm….so far
The Atlanta Journal-Constitution
Equifax CEO Rick Smith first painted a bleak economic picture for his shareholders at today’s annual meeting.
And then he delivered a rather rosy outlook for Equifax in 2008, estimating revenue growth to be between 9 percent and 12 percent.
“These are unprecedented times,” Smith said before commending Equifax employees for “a great performance” during a difficult year.
Despite Equifax’s relatively strong financial results, two non-binding shareholder propsals opposed by the company passed with solid majorities.
The first, presented by the American Federation of State, County and Muncipal Empoyees Pension Plan, called for all of Equifax’s directors to be elected on an annual basis. Currently Equifax’s directors serve on staggered three-year terms.
That proposal passed by 66.5 percent of shares cast.
The second shareholder proposal, presented by the United Brotherhood of Carpenters Pension Fund, called for directors to be elected by a majority of votes cast. Currently, Equifax’s directors can be elected by a plurality of votes.
That proposal passed by 61.7 percent of shares cast.
Smith told shareholders that the “board of directors will, in due course, consider whether those two proposals are in the best interest” of the company and its shareholders.
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