Survey also indicates gaps in compensation disclosure requirements
U.S. public companies continue to
evolve their governance practices, especially those relating to voting
matters, director independence, qualifications and time commitments,
related party transactions and shareholder proposals, as they now also
grapple with SEC disclosure requirements around executive and director
compensation, according to Shearman & Sterling's fifth annual Corporate
Governance Survey of the largest US public companies.
This year's survey comes in two parts -- the fifth annual examination
of general governance practices and a new annual report on executive and
director compensation practices. The survey findings are primarily based on
an in-depth analysis of the proxy statements of the top 100 US public
companies.
"We continue to see increasingly active involvement by shareholders
seeking to influence corporate strategy and direction," said John Madden,
Shearman & Sterling's co-managing partner. "We are also seeing a greater
role being sought by shareholders in the director election process, as well
as a paring back of structural takeover defenses."
See full Press Release.
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