Financial Times (August 3)
“Companies denied votes on a record number of resolutions during this proxy season after US regulators made it harder for shareholders to demand changes related to climate, diversity and labour rights.” As a result, the number of shareholder proposals is down from last year. “ISS-Corporate found that 21 per cent of environmental and social proposals were omitted this year, compared with only 9 per cent last year.” The SEC granted nearly a third more “no-action” requests, which allow companies to omit shareholder proposals from proxy materials.
Tags: Climate, Companies, Denied, Diversity, Environmental, ISS, Labour rights, Proxy season, Regulators, Resolutions, SEC, Shareholder proposals, Social, U.S., Votes
The Economist (March 9)
“The annual shareholder proxy season now getting under way in America could be the liveliest ever. The bosses of Apple and Disney have drawn flak not only for their strategies but also for their pay. Activist shareholders are on the march. About time, too…. Trying to improve the way a firm is run is more constructive than the traditional ‘Wall Street walk’, whereby disgruntled shareholders simply sell their shares.”
Tags: Activists, Apple, Disney, Pay, Proxy season, Shareholders, Strategies, U.S.
