Fermi Changes Rules to Thwart Ex-CEO’s Push to Remake Board (3)

US power-plant developer Fermi Inc. changed its rules around director appointments to block efforts by its former chief executive officer to reshape the company’s board.

The company, which aspires to build the world’s biggest private power complex for data centers, now requires 70% of shareholders to approve any changes involving director numbers or tenure, according to a regulatory filing Thursday.

The move is the latest in an escalating conflict over control of the firm. Fermi fired CEO Toby Neugebauer in mid-April, citing violations of company policy. He responded by calling a shareholder meeting to vote on proposals to expand the ...