Ormat Technologies, Inc. (NYSE:  ORA), announced today that its Board of Directors will call a special meeting on November 6, 2019 to submit to a stockholder vote amendments to the Company’s Certificate of Incorporation and By-laws to declassify the Board, from three classes of directors who serve three-year terms, to a single class of directors serving annual terms. The Board of Directors plans to recommend that stockholders vote in favor of such amendments. To facilitate the declassification of the Board in a timely manner, following and subject to approval by the stockholders to amend the Company’s Certificate of Incorporation and By-laws, each director is expected to resign and to be immediately reappointed to the Board for a term ending at the 2020 Annual Meeting of Stockholders.

source https://finance.yahoo.com/news/ormat-technologies-inc-board-directors-201000700.html?.tsrc=rss