Vectren Board Changes

Energy holding company Vectren(VVC Quote) said Thursday that its board of directors has unanimously approved changes designed to further enhance its corporate governance practices by removing staggered terms of service for its directors, implementing director selection criteria and adopting a majority vote standard for director elections.

The Evansville, Ind.-based company's board amended the company's by-laws to provide for the creation of a single class of directors who are elected annually, which eliminates the current three classes serving staggered terms.