Shareholders of H. F. Ahmanson & Co....

Shareholders of H. F. Ahmanson & Co. approved a proposal to get rid of cumulative voting in the election of its directors. The approval eliminates the ability of Ahmanson stockholders to vote their shares for directors in any manner they desire, including their option of voting all their stock for a single nominee. Cumulative voting makes it easier for dissident or minority shareholders to gain a seat on a board of directors. Some 57% of the shareholders approved the measure, and 15.4% were opposed, it was announced at the company’s annual meeting in Los Angeles. Ahmanson is the parent company of Home Savings of America.