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CORRECTED-ISS backs both of former Cypress CEO's board nominees

(Corrects date of annual meeting to June 20 from June 19)

June 6 Proxy advisory firm Institutional Shareholder Services Inc recommended on Tuesday that Cypress Semiconductor Corp shareholders vote for both board nominees put forward by the company's founder and former CEO T.J. Rodgers.

The recommendation is a blow to Cypress executive chairman Ray Bingham, which ISS had previously recommended keeping, urging shareholders to withhold their support only for the company's lead independent director, Eric Benhamou.

However, ISS changed its recommendation to replacing both Bingham and Benhamou following new disclosures made by the company with regard to Bingham's participation in a U.S. private equity fund with Chinese state funding.

A Delaware judge last week delayed Cypress' annual meeting, where shareholders will vote on the company's board nominees, to June 20. (Reporting by Michael Flaherty in New York; Editing by Chizu Nomiyama)

我们的标准: 汤森路透“信任原则

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