In The News Research & Reports Alerts & Blog About
Director Elections

So far this proxy season 94 proposals calling for the majority vote standard to be applied to director elections have been published in proxy materials this proxy season. Thirty-one of these were voted on at meetings last year. Full details provided at: Open AGM

At least 49 resolutions calling for a majority vote threshold to be applied to director elections have been published in US public company proxies already this year (up to 31 March 2006). Of these, 12 are repeat resolutions which last year earned anywhere from 30 percent support (Paccar Inc) to 58 percent support (Raytheon Co). […more…]

The wave of proxy submissions that traditionally heralds the start of a new proxy season has not yet begun. Yet even at this stage at least three proxies containing proposals calling for a majority vote standard to be applied to director elections have been filed with the SEC. Predications are that this number will exceed […more…]

On Tuesday this week The Corporate Library released a new report authored by this blogger. The report presents the results of an analysis of the voting behaviour of funds as reported in their 2004 and 2005 proxy filings. It compares voting records on a number of dimensions: across the two years (2004 and 2005), across […more…]

In an article entitled Teflon Directors published today at the Forbes website, Maya Roney reports on the present whereabouts of the directors who served on the boards of Enron, Global Crossing, Worldcom, Adelphia, Tyco and Waste Management during the ‘scandal’ periods.1 Between them, these directors still hold in excess of 120 directorships at other public […more…]

With the receding likelihood of the enactment of the ‘proxy access rule’, certain investor groups’ strategy has been to promote the ‘majority vote’ rule with respect to director elections. This may be seen as an alternative method of gaining some control over corporate board composition in the US. The rule requires that directors can only […more…]

Some funds are more likely to vote against management than others, both on management- and shareholder-sponsored resolutions. During 2004 US Investment Companies were required for the first time to publicly disclose their voting. Also during 2004 shareholders appeared to lose the battle for access to the proxy ballot in proposing their own nominees. So for […more…]