Tuesday, April 27, 2004

Cincy Financial board vote varies

The Cincinnati Enquirer

All five nominees to Cincinnati Financial Corp.'s board of directors were elected to three-year terms Saturday in a vote that showed some shareholder dissension.

First-time nominees Dirk Debbink and Douglas Skidmore sailed through the election, but shareholders withheld 21.5 percent of the votes cast on company co-founder Robert Schiff, 19.4 percent on John Shepherd and 9 percent on Cincinnati Bengals owner Mike Brown.

Institutional Shareholder Services had recommended that votes be withheld from Schiff, who failed to attend 75 percent of Cincinnati Financial's board and committee meetings last year, and from Shepherd, who serves on the audit committee that approved more than $2 million worth of consulting work for the company's auditors.

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