Sally Peterson owns 2 million of the outstanding 10 million shares in Amalgamated Steel, Corp. Amalgamated has 7 directors. The board is not staggered, but the corporation's certificate of incorporation permits cumulative voting of shares. How many board members is Sally guaranteed to be able to appoint, assuming that all shares are voted at the annual meeting?

Answer rating: 100% (QA)

In a cumulative voting system shareholders may cast all their votes for a single nominee for the boa... View the full answer