How to Monitor Shareholder Activism in a Changing World
We just posted the "Summer '09 Issue" of InvestorRelationships.com (we are maintaining this publication as complimentary thru ’09 as a “Thank You” to our loyal members in a down economy). The "Summer '09" issue includes articles on:
- How to Monitor Shareholder Activism in a Changing World
- The Art of Handling Director Resignations: Practice Pointers
- Parsing the SEC’s Proxy Access Proposal
- My Last ExxonMobil Annual Meeting
- Online Document Sharing Services: Legal and Reputation Concerns for IROs
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Survey Results: Schumer's "Shareholder Bill of Rights" Unpopular with Executives
Recently, the NYSE conducted a poll of its listed companies regarding Senator Schumer’s "Shareholder Bill of Rights Act of 2009." Here is a summary of the results:
- 87% oppose and 6% favor legislation that requires advisory votes on executive compensation
- 82% oppose and 7% favor legislation to require proxy access, while 76% oppose and 10% favor the proposed 1% ownership level threshold for proxy access (among those opposed, 49% oppose and 31% favor a 5% level for proxy access, 55% oppose and 27% favor a 10% level for proxy access)
- 76% oppose and 16% favor legislation that mandates separation of the CEO and Chair roles
- 90% oppose and 4% favor legislation that precludes the CEO or a former CEO from ever serving as Chairman, even after retirement as a company executive
- 63% oppose and 25% favor legislation to mandate that all directors stand for re-election each year
- 45% oppose and 43% favor legislation requiring that in uncontested elections, directors must receive a majority of votes cast
- 66% oppose and 19% favor legislation that requires companies to establish a risk committee
- 73% currently have independent directors as part of the audit committee responsible for the company’s risk management practices, while 10% have a separate committee
- 81% oppose and 4% favor the Shareholder Bill of Rights Act (51% indicated that the Act would “greatly” or “somewhat” impair the company’s position with respect to their international competitors, while 24% and 2% say it would have “no impact” or “enhance” their competitive position; 90% say the Shareholder Bill of Rights Act would “significantly” or “somewhat” increase their costs as a public company, with 3% citing no effect)
Your Vote: What are the Odds of Schumer's Bill Being Passed?
Provide your anonymous vote in this poll:
- Broc Romanek
Posted by broc at 07:41 AM