The changes would also make it easier for Fidelity to join a group soliciting proxies to remove directors.

Although the sackings were widely seen as a purge of ethnic Albanians, the government maintained that it was removing former communist directors.

If investors wanted to remove directors, their safest bet would be to lobby a board against the offending director, essentially pressing for a resignation.

The company's bylaws, however, prevent its stockholders from calling a special meeting at which they can vote to remove directors.

In addition, an 80 percent vote of shareholders will be needed to remove directors, and even then such a step cannot be taken without cause.

Most shareholders already have the ability to remove directors, Mr. Lutin pointed out - but they rarely pursue such a course.

Supermajority vote requirements to remove directors.

A group led by David Bolger said it had the necessary number of proxies from company shareholders to call a special meeting to remove current directors.

A majority voting standard for the election of directors will give shareholders a tool to remove directors who make poor executive-compensation decisions.

Many corporate executives, meanwhile, have been arguing against a proposal that would give shareholders the ability to remove directors of troubled companies.