Hospitality Properties Trust board abolishes annual director elections, defying years of investor votes, reports UNITE HERE

Less than two months before Hospitality Properties Trust [Nasdaq: HPT] was to begin annual director elections for its entire board of directors – for the first time in its history – the board abruptly reversed course, reinstating multi-year, staggered terms for directors.

HPT’s move comes as a slap in the face to investors who voted for five years in support of annual director elections, then voted for three years to protect this right from a Maryland state law loophole. Read more