Global Medical REIT Inc.'s board approved changes in the company's bylaws pertaining to the election of directors.
The board approved a shift to a majority voting standard from a plurality standard for uncontested director elections. Chairman and CEO Jeffrey Busch said the move assures accountability to the trust's stockholders.
The company is also amending its corporate governance guidelines to specify that a director who receives less than a majority vote in an uncontested election will tender his or her resignation to the board, and the nominating and corporate governance committee will recommend to the board whether it should accept or reject the resignation, or whether other action should be taken.
