What Do Investors Expect From Boards?

The Investors Board Performance Review series, sponsored by Nasdaq, PwC’s Governance Insights Center, Wilson Sonsini Goodrich & Rosati, and Equilar, brings investors, activists, and proxy advisors together to share how they feel about corporate directors and boardroom issues.

Panelists for this session:

Michelle Edkins – Managing Director, Global Head BlackRock Investment Stewardship

Aeisha Mastagni – Portfolio Manager, Corporate Governance, California State Teachers’ Retirement System (CalSTRS)

Greg Taxin – Managing Member, Spotlight Advisors, LLC.

Questions and topics discussed include:

— What are boards doing well? What do they still need to improve on? Covering topics ranging from shareholder engagement to board composition, panelists generally agreed in their performance assessments of corporate boards. Board refreshment—in particular, the seemingly lax effort to replace ineffective directors—garnered even more discussion than it has in past episodes.

— What expectations do these major investors have surrounding shareholder engagement? Not only do we hear from institutional investing giants BlackRock and CalSTRS on the “Who? What? When?” of shareholder engagement, but Greg Taxin offers a shareholder activist’s perspective. Taxin outlines the two most common mistakes board are making when it comes to engaging with shareholders.

— Looking into the future, what should boards expect on the road ahead? Looking one to three years ahead, each panelist makes predictions on the board governance landscape—detailing what directors must do if they wish not to fall behind.

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