MILWAUKEE, Feb. 16 /PRNewswire-FirstCall/ -- Marshall & Ilsley Corporation today announced its Board of Directors has approved an amendment to the Corporation's Corporate Governance Guidelines relating to the election of directors that strengthens the Corporation's corporate governance structure.
Under the amended Corporate Governance Guidelines, any nominee for director in an uncontested election who receives a greater number of votes "withheld" from his or her election than votes "for" such election will be required to tender his or her resignation to the Chairman of the Board. The amended guidelines require that the Nominating and Corporate Governance Committee will promptly consider any tendered resignation offer and recommend to the Board whether to accept or reject it. The amended guidelines further require that that the Board will act on the recommendation no later than 90 days following the tender of the resignation, and will publicly disclose its decision whether to accept or reject the tendered resignation.
"The adoption of this amendment to the Corporation's Corporate Governance Guidelines demonstrates the Corporation's ongoing commitment to strong corporate governance policies and accountability to its shareholders," said Dennis J. Kuester, Chairman of the Board and Chief Executive Officer, Marshall & Ilsley Corporation.
The full text of the Corporation's Corporate Governance Guidelines, as amended, is available on the Corporation's website at http://www.micorp.com/ .
Marshall & Ilsley Corporation's Board of Directors also declared a regular quarterly cash dividend of $0.24 per share on its common stock. The dividend is payable on March 10, 2006, to shareholders of record at the close of business on March 1, 2006.
Marshall & Ilsley Corporation is a diversified financial services corporation headquartered in Milwaukee, Wis., with $46.2 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin- based bank. M&I Bank has 194 offices throughout the state, in addition to 42 locations throughout Arizona; 13 offices in metropolitan Minneapolis/St. Paul, Minn.; and, locations in Duluth, Minn.; Las Vegas, Nev.; and, Naples and Bonita Springs, Fla. M&I's Southwest Bank affiliate has seven offices in the St. Louis area and one office in Belleville, Ill. Metavante Corporation, Marshall & Ilsley Corporation's wholly owned technology subsidiary, provides virtually all of the technology an organization needs to offer financial services. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices throughout the country and on the Internet ( http://www.mibank.com/ or http://www.micorp.com/ ). M&I's customer-based approach, internal growth, and strategic acquisitions have made M&I a nationally recognized leader in the financial services industry.
First Call Analyst:
FCMN Contact: sara.schmitz@micorp.com
