Las Vegas Sands Corp.'s shareholders on June 7 approved an amendment to the company's bylaws to declassify the casino operator's board of directors, the company said June 8 in an SEC filing.
Pursuant to the revised articles of incorporation, each elected director will serve a one-year term from the 2018 annual meeting, as opposed to the previous terms, where directors were divided into three classes. Originally, class I directors were to serve until the 2020 annual meeting, class II directors were to serve until the 2018 annual meeting and class III directors were to serve until the 2019 annual meeting.
The company said its board also approved the change, adding that it allows stockholders the opportunity each year to register their views on the board's composition.
Meanwhile, the shareholders also ratified the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending Dec. 31.
