Tag archives: Institutional Shareholder Services

Ignoring board gender diversity is no longer an option

By Michael Viner (Toronto) on Posted in Corporate Governance, Shareholder Activism
Discussions around board gender diversity are picking up steam in the lead up to the 2018 proxy season. Some of the leading proxy advisory firms, namely the Institutional Shareholder Services (ISS) and Glass Lewis & Co. LLC (Glass Lewis), appear to have caught wind of the discussions – both firms added a voting policy in … Continue reading

Majority voting and board diversity trends

Photo of Jenny YooBy Jenny Yoo on Posted in Corporate Governance
As recently highlighted in the Harvard Law School Forum on Corporate Governance and Financial Regulation, a report (the Report) by Institutional Shareholder Services (ISS) found that majority voting practices and annual board elections, along with increases in board diversity, are the new norm. The Report examined the public filings of Standard & Poor’s U.S. “Super … Continue reading

Updates to ISS proxy voting guidelines

Photo of Denise Gan (Toronto)By Denise Gan (Toronto) on Posted in Corporate Governance
Institutional Shareholder Services (ISS) is one of the leading proxy advisory firms that makes voting recommendations on public companies’ proxy resolutions. In Canada, ISS’ recommendations on transactions and governance issues can have a significant impact on many shareholders’ opinions, and particularly the opinions of institutional shareholders. ISS publishes its proxy voting guidelines which explain the … Continue reading

ISS proposed proxy voting policy changes for 2016

By Dana Carson on Posted in Corporate Governance
Institutional Shareholder Services (ISS), one of the world’s most influential proxy advisory firms, recently released its draft proposed voting policies for 2016.  ISS is currently requesting feedback on new or potential changes to three voting policies in Canada covering the following areas: director overboarding, compensation-related votes at externally-managed issuers and the introduction of an equity … Continue reading

ISS Updates its Proxy Voting Guidelines for the 2015 Season

By Saeed Teebi (Toronto) on Posted in Compliance, Corporate Governance, Proxy Battles, Securities, Shareholder Activism
On November 6, 2014, Institutional Shareholder Services (ISS) released updates to its Canadian proxy voting guidelines for the 2015 proxy season.  The voting guidelines are effective for meetings held on or after February 1, 2015.  The following is a summary of the most significant changes. Director Elections Director Independence: ISS has made several changes to their … Continue reading

Defensive Tools in Shareholder Activism: The “Voting Pill”

Photo of Jacob Cawker (Toronto)By Jacob Cawker (Toronto) on Posted in Corporate Finance, Corporate Governance, M&A, Proxy Battles, Securities, Shareholder Activism
In today’s Financial Post,  Barbara Shecter highlighted the use of modified shareholder rights plans (colloquially known as “poison pills”) as an emerging defensive tool against opportunistic shareholder activism in Canada.  Traditionally, poison pills are used by boards of target companies as defensive tools to guard against unsolicited takeover bids.  By expanding the typical definition of … Continue reading

Trends and Predictions in Canadian Proxy Contests

By Guy White on Posted in Corporate Finance, Corporate Governance, M&A, Proxy Battles, Securities, Shareholder Activism
Kingsdale Shareholder Services has released its 2014 Proxy Season Review.  In its report, Kingsdale discusses trends observed in 2014, predictions for the future, and gives its key recommendations for companies in the Canadian marketplace.  In reviewing 2014 and comparing it to the previous year, Kingsdale observes: By the numbers – the total number of proxy … Continue reading
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