Correct, but I'm trying to draw a parallel between regular, scheduled shareholder votes and regular, scheduled votes for elected officials. In the U.S we typic

Correct, but I'm trying to draw a parallel between regular, scheduled shareholder votes and regular, scheduled votes for elected officials. In the U.S we typically have around 60% of eligible voters participating in presidential elections. My analogy assumes that voting against the incumbent follows the same rules as voting against the board, in which case we would need something like 84% of cast votes to be for the challenger to avoid re-electing the incumbent. (Assuming I haven't gotten my math wrong.) I'll also go so far as to suggest voter participation is low in both cases but it isn't a very effective tool for changing policy. :-)