Edsel Ford, son of Henry Ford, with wife Eleanor and children Henry II, Benson, Josephine and William in 1937.
Some Ford Motor Co. shareholders dislike the grip that the Ford family has on the company.
Stockholders will vote on a proposal at Ford's annual meeting on May 12 to create a single class of shares, Bloomberg News reported.
The proposal, to be detailed in the automaker's forthcoming proxy statement, would reduce the voting power of the Class B shares held by the family since Ford Motor went public in 1956.
Those special shares give the family a 40 percent voting stake.
Ford common stock closed at $11.29 per share last week, near its 52-week low.
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