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Article: Ex-CEO Claims Support.
- Article from:
- American Banker
- Article date:
- April 16, 2008
- Author:
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The former chief executive of Vineyard National Bancorp in Corona, Calif., appears to be a step closer to his goal of winning control of its board.
Norman Morales, who resigned as the $2.5 billion-asset company's CEO on Jan. 23, said late Monday that a majority of its shareholders had consented to changes in its bylaws that would allow Mr. Morales and another shareholder, Jon Salmanson, to propose an alternative slate of directors at the company's annual shareholder meeting.
Mr. Morales and Mr. Salmanson said they plan to nominate six candidates, including Mr. Morales, to replace Vineyard's entire board once it sets a date for its meeting. However, the ...