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Disney Gone, But TXI Grants Shamrock’s Wishes

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Disney Gone, But TXI Grants Shamrock’s Wishes

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Last fall Roy Disney Jr.’s Shamrock Holdings, which owns about 10 percent of Dallas-based cement producer TXI Industries, made some demands of the company, which it claimed was suffering from poor management.

Last October, TXI agreed to bring Shamrock’s three nominees onto its board of directors. And though Disney died last month, today TXI says it will change its bylaws to meet three demands made by Shamrock, including: all board directors will be up for election every year, and directors will require a majority (not plurality) of votes from shareholders.