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  "documentTitle": "Lazard Ltd (LAZ)",
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      "text": "Lazard has also committed to several important initiatives to improving its corporate governance. By the end of 2012, Lazard will increase the independence of its board and allow for shareholders to more easily change the constitution of the board.",
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      "text": "Trian continues to believe that Lazard should de-classify its board of directors. Annual elections better allow shareholders to influence corporate governance policies and increase a board's accountability. Many U.S. company's have eliminated their classified board structures in recent years and today two-thirds of S&P 500 companies have de-classified boards.",
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      "text": "A strong, independent board is essential in ensuring that shareholders receive an adequate return on their investment through: Providing objective assessment of management and the company's operating performance; Instituting proper incentive compensation to align management and shareholder interests; Ensuring that capital is deployed for the benefit of shareholders.",
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      "text": "Lazard is committing to add two new independent directors to its Board by year end 2012 and has already appointed one of them. Lazard will adopt a majority voting policy with respect to electing directors.",
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      "text": "(1) On June 13, 2012, Lazard announced that it had elected Richard Parsons to the Board of Directors (2) ISS 2012 US Board Practices Study (3/2/2012)",
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