SANTA CLARA, Calif.--(BUSINESS WIRE)--Sept. 13, 2006--Applied
Materials, Inc. (Nasdaq:AMAT) today announced that its Board of
Directors has amended Applied's Corporate Governance Guidelines to
implement a majority voting policy for electing directors that
enhances the role of stockholders in the election process.
Under this policy, in the event that a nominee for director in an
uncontested election receives more "withheld" votes for his or her
election than "for" votes, the director must submit a resignation to
the Board. The Board's Corporate Governance and Nominating Committee,
composed entirely of independent directors, will evaluate and make a
recommendation to the Board with respect to the proffered resignation.
The Board must take action on the recommendation within 90 days
following certification of the stockholder vote. No director who
tenders a resignation may participate in the Committee's or the
Board's consideration of the matter. The company will publicly
disclose the Board's decision including, as applicable, the reasons
for rejecting a resignation. Applied's directors are elected to serve
one-year terms.
"We are committed to upholding high standards in corporate
governance," said Mike Splinter, president and CEO of Applied
Materials. "Today's action increases our Board's accountability to our
stockholders by formalizing the consequences in the event a director
receives a majority of withheld votes."
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in
Nanomanufacturing Technology(TM) solutions for the electronics
industry with a broad portfolio of innovative equipment, service and
software products. At Applied Materials, we apply Nanomanufacturing
Technology to improve the way people live. Learn more at
www.appliedmaterials.com
CONTACT: Applied Materials, Inc.
David Miller, 408-563-9582 (Business/Financial Media)
Randy Bane, 408-986-7916 (Financial)
SOURCE: Applied Materials, Inc.