Cablevision will keep two directors on its board who failed to win majority approval, marking the third time in four years that the cable-TV company has ignored the collective will of its investors.
The results of the latest election on Thursday show that 54.8 percent of shareholders cast votes against director Vincent Tese and nearly 52 percent disapproved of Leonard Tow.
A third director, Thomas Reifenheiser, was re-elected by a slim margin of 0.5 percent.
Tese, Reifenheiser and another director, John Ryan, failed to win a majority of shareholder support in 2010 and 2012, but remained on the board nonetheless.
This prompted New York City Comptroller John Liu to call for shareholders to vote against all five Class A directors this year, saying Tow and Zachary Carter were responsible for re-nominating the three directors against the wishes of shareholders.
Yesterday, Liu called for Tese and Tow’s immediate resignations.
“These directors have served Cablevision shareholders well and we look forward to their continuing contributions,” said Cablevision spokesman Charlie Schueler.
“Our shareholders know that Cablevision is a controlled company and they understand the rules by which our directors are elected.”