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PulteGroup shareholders elect company's board nominees despite founder's objections

PulteGroup Inc.shareholders elected each of the company's 10 director nominees to new one-yearterms at its annual shareholder meeting May 4.

Each nominee received the support of more than 83% of the sharesvoted. Adjusting for the shares owned by company founder William Pulte, who hadsaid he would vote againstall directors, each director received more than 93% of shares voted, the companysaid.

Citing concerns about the company's underperformance, Pulte wrotea letter to shareholders in April calling for the immediate resignation of ChairmanRichard Dugas Jr. and lead director Jim Postl.

Shareholders also approved an amendment to extend the term ofthe company's amended and restated Section 382 rights agreement.