NetApp, Inc Receives a Shareholder Proposal from John Chevedden
July 21, 2021 at 01:36 am IST
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On July 20, 2021, NetApp, Inc announced that it has received a shareholder proposal from John Chevedden, requesting that the board of directors take the steps necessary to permit written consent by shareholders entitled to cast the minimum number of votes that would be necessary to authorize the action at a meeting at which all shareholders entitled to vote thereon were present and voting. This written consent is to give shareholders the fullest power to act by written consent consistent with applicable law. This includes shareholder ability to initiate any appropriate topic for written consent. In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting of shareholders scheduled to be held on September 10, 2021.
NetApp, Inc. specializes in the design, manufacturing and marketing of equipment for managing and storing network data. Net sales break down by family of products and services as follows:
- product sales (52%): file, cache and storage servers, data management, content distribution and information synthesis softwares;
- support services (37.1%): consulting, maintenance, technical assistance and training services;
- cloud services (6.3%): cloud storage and data management services;
- professional services (4.6%).
Net sales are distributed geographically as follows: Americas (54.8%), Europe/Middle East/Africa (31.3%) and Asia/Pacific (13.9%).