NPR Marketplace on Proxy Access

NPR’s Marketplace reports: Many companies have already embraced a kind of governance called “proxy access,” where shareholders can nominate company officials. But other corporations, including IBM and Charles Schwab, oppose it. Listen to the segment: Why companies differ over ‘proxy access’

Proxy Access Reaches the Tipping Point: Adopted by Just Over 50% (251) of S&P 500 Companies as of December 31, 2016

Sidley Austin reports: In just two years, proxy access has become a majority practice among S&P 500 companies, proving again the effectiveness of private ordering by shareholders to enhance their rights. The firm’s new report on proxy access provides an update on (i) recent shareholder proposals seeking specified revisions to existing proxy access provisions (so-called…

GAMCO’s First Use of Proxy Access and “Fix-It” Proposals

First Use of Proxy Access Bylaw On November 10, 2016, GAMCO Investors, Inc. and its affiliated funds filed a Schedule 14N disclosing their nomination of a proxy access candidate for election to the board of directors of National Fuel Gas Company pursuant to the company’s recently adopted proxy access bylaw. National Fuel has a nine-member…

ExxonMobil Adopts Scott Stringer’s Proxy Access Proposal

Announcement from the NY City Comptroller: Today, ExxonMobil announced that it will amend its bylaws to adopt proxy access – a cornerstone of Comptroller Scott M. Stringer and the New York City Pension Funds’ strategy to make corporate boards more diverse, independent, and accountable. Proxy access achieves these goals by giving large, long-term shareholders the…