Cablevision’s Chairman Backs Off Board Plan
Charles Dolan, the founder and chairman of Cablevision Systems Corp., is backing off a plan to shrink the size of the company’s board and to elect three-quarters of its directors.
According to a regulatory filing, Dolan told the company’s board at a meeting last week that he no longer planned to exercise his right to elect 75% of the company’s board at its annual meeting next month.
The filing provided no explanation for Dolan’s retreat from his earlier position, and a company spokesman declined to comment.
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