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Mattel shareholders reject proposal to appoint independent chairman

Mattel Inc. shareholders rejected a proposal calling for an independent chairman at the company's annual shareholder meeting on May 17.

According to a May 22 SEC filing, 83,107,032 votes were in favor of the proposal but there were 199,843,746 votes against it.

The proposal was put forward by John Chevedden, who holds at least 200 shares of the U.S. toymaker's common stock. Mattel's board is chaired by Ynon Kreiz, who was appointed as executive chairman April 3.

The shareholders also rejected Mattel's executive compensation plan. There were 132,101,334 votes in favor of approving the executive pay proposal and 156,514,726 votes against it.

Meanwhile, the shareholders ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the year ending Dec. 31.