By  on June 27, 2008

Dissatisfied with the leadership of Chico's FAS, some institutional investors withheld their votes Thursday for a key board member at the company's annual meeting.

More than 45 percent of the institutional investors withheld ballots for John Burden 3rd, said Greg Taxin, managing director of Spotlight Capital Management LLC, a private investment fund that is a Chico's shareholder. Taxin said Burden, who was reelected with board members David F. Walker and John J. Mahoney, has a conflict of interest because his son-in-law is on Chico's management team.

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