Asset Management

Vanguard takes tougher stance against overextended board members

The index-fund giant is preparing to issue updated proxy-voting guidelines

Vanguard Group is taking a tougher stance against companies whose board members it believes are stretched too thin.

The world’s second-largest asset manager plans to vote, in most cases, against corporate executives running for two or more public company board seats beyond where they are employed, a Vanguard spokeswoman said. Vanguard said it would generally vote against other board candidates seeking more than four board seats at one time.

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