Fed up with what they say is board inaction, investors launched high-profile campaigns this proxy season against the reelection of board members at companies including Amazon, Chevron, Meta Platforms, Twitter and Wendy’s. Additionally, companies including Activision Blizzard face vote-no campaigns in upcoming meetings.Though the campaigns so far had little impact on average support levels for directors broadly, in some cases targeted directors saw big drops.Average support for directors so far this year at Russell 3000 companies is 95.1%, down slightly from 95.3% last year, according to The Conference Board. Only 14 directors did not receive majority support as of May 31.

Agenda – Vote-No Campaigns: Foreboding or Fizzled?