WASHINGTON - In a stinging rebuke to the management of the Student Loan Marketing Association, shareholders elected at least six of the eight insurgent board candidates led by former executive Albert Lord.

"The vote is in, the election is over, and the battle is over," said Mr. Lord, the company's former chief operating officer. "I think the owners of the company have spoken with clarity."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.