This year, two measures got more than two-thirds average support among shareholders: calls to repeal classified boards and moves seeking to erase supermajority voting, according to Institutional Shareholder Services.
Investors are increasingly supporting shareholder resolutions calling for change in a company’s corporate governance practices. On average, eight of 11 different measures received more support this past year than during the 2005 proxy voting season, according to a preliminary Institutional Shareholder Services (ISS) analysis of the 2006 proxy voting season.
To be sure, such resolutions aren't binding on the target company and thus are, in effect, straw polls. But in recent years, more and more companies have made changes in their corporate governance practices after receiving majority support—or strong minority support—for a related measure.
See full Article.
Posts
