State Street Loosens Restrictions on Overboarded Directors

State Street Global Advisors will no longer have a numerical overboarding limit related to director time commitments and won’t use the limits to identify overcommitted directors, according to the investment firm’s much-awaited proxy voting guidelines.Instead, SSGA will vote against the chair of the nominating and governance committee at S&P 500 companies that don’t clearly disclose their policies on director time commitments, SSGA president and CEO Yie-Hsin Hung wrote in a recent letter to board members.

Agenda – State Street Punts on Director Overboarding

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