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In line with its commitment and accountability to shareholders,
TDS continued to improve its corporate governance. Initiatives
included:
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| • |
|
Proposing that
shareholders approve eliminating the staggered terms
of office for TDS board members so that all members
are elected annually |
| • |
Forming
a corporate governance committee of the board and
adopting corporate governance guidelines |
|
| • |
Limiting
to three the number of other public company boards
on which members of the board may serve |
|
| • |
Instituting
a policy that independent directors meet at least
once annually without non-independent directors
and management |
|
| • |
Giving
the board and each of its committees the authority
to retain, as they deem appropriate, outside advisers |
|
TDS has a heritage of integrity
and operating with high ethical standards. We are committed
to providing our shareholders, customers and employees
the corporate governance that supports the long-term growth
and strength of the company.
One who exemplified this
commitment to integrity and the company’s long-term
success was Lester O. Johnson, one of the founding directors.
It is with great sadness that we note the passing of Mr.
Johnson, whose many contributions during the 28 years
he served as a corporate director helped make TDS the
vibrant company it is today. He leaves an impressive legacy
for all of us, one that we deeply appreciate and will
work to live up to. continue4
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