Janus' [profile] board will soon be classless, and its directors will face annual reelection. The Denver-based mutual fund shop's stockholders and board of directors alike both approved changes to the way the board works, according to an 8-k filing with the SEC.

Janus spokeswoman Jane Ingalls told MFWire.com that, like many other companies, the shop is phasing in one-year terms for directors.

The filing, dated May 18, states that stockholders approved the "phased-in elimination of the classification of the Board of Directors and the annual election of all directors."

Each Janus director will now be elected every year during the stockholders' annual meeting, and will serve a one year term until the next annual meeting. Current directors will serve out the remainder of their terms, though, before facing having to fight for reelection. 

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