Citadel Holding Corp., the Glendale-based parent of...
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Citadel Holding Corp., the Glendale-based parent of Fidelity Federal Savings & Loan, said its stockholders approved management’s bid to remove dissident director Alfred Roven from its board. At their annual meeting, shareholders passed a proposal that ends Citadel’s use of staggered board terms and allows the removal of a director “without cause.” Then they reelected 10 incumbent Citadel directors--but not Roven--to serve one-year terms. Roven, 45, could not be reached for comment. He has been a Citadel director since 1985 and last year sought stockholder consent to remove six other board members and to put Citadel up for sale.
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