06:07 PM EDT, 04/04/2024 (MT Newswires) -- BlackRock ( BLK ) shareholder Bluebell Capital Partners proposed to amend bylaws for election of independent board chair, unlike a company insider like Blackrock ( BLK ) chief executive and current board chairman Larry Fink.

According to proxy document filed Thursday, London-based activist investors Bluebell argued that the role of the company's CEO is to "run the company," while that of the board is there to "provide independent oversight of the CEO."

Bluebell also said Blackrock ( BLK ) periodically has supported similar proposals at other companies it invests in.

The BlackRock ( BLK ) board recommended to vote against the proposal.

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