Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Monday, July 16, 2007

Investors and Management Negotiate Changes in Corporate Policy

This year's proxy season saw more behind the scenes discussions among investors and corporate management about corporate governance issues and less posturing at the shareholders' annual meetings, according to the Wall St. Journal.  Twenty-four percent of shareholder proposals were withdrawn as of July 6, suggesting that changes in policy had been agreed to in advance of the meeting.  At least 70 companies agreed to adopt a majority-vote requirement for directors' elections.  See WSJ, Firms, Investors Trying More Talk, Less Acrimony.

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