NYC comptroller reports 10,000% rise in proxy access since 2014 | Bond Buyer

An extraordinary achievement for Scott Stringer and the NYX pension funds, possibly the most significant shareholder initiative ever.

More than 600 firms have adopted proxy access, a program launched under the New York City Comptroller’s Boardroom Accountability Project, a hundredfold increase since the program was launched, Comptroller Scott Stringer and the New York City Retirement Systems announced on Thursday.

Over 71% of S&P 500 firms now allow shareholders proxy access, which gives large, long-term shareholders such as the city’s pension funds the ability to nominate directors to company boards. This is up from just six companies in 2014 when the program was started.

via NYC comptroller reports 10,000% rise in proxy access since 2014 | Bond Buyer

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s