While shareholder resolutions and countermotions are still relatively rare in Europe, they are a core feature of the US market. Here Allie Monaco of ProxyGovernance has highlighted some of February and March’s more interesting proposals.
|
Company |
Meeting |
Proposal Description |
Note |
|
Becton Dickinson |
Feb 2 |
Majority vote to elect directors Adopt cumulative voting |
First time submission; historically responsive to majority votes Submitted consecutively since 1997; rec’d 43% support last year |
|
Oshkosh Corp |
Feb 4 |
Majority vote to elect directors |
First year proposal; company has resignation policy in bylaws |
|
Tyson Foods Inc |
Feb 5 |
Antibiotics in animal feed Water Pollution Antibiotics in animal feed |
Regular target of SRI related proposals – company facing various performance, governance and compensation issues |
|
Rockwell Collins Inc |
Feb 9 |
Say on Pay |
Although expected to be legislated, shareholder proposals continue – average support 45% in 2009 |
|
Deere & Co |
Feb 24 |
Say on pay Independent board chair |
Both second year submissions receiving 42% of votes cast last year |
|
Apple Inc |
Feb 25 |
Sustainability resolutions |
In addition to the typical request for a sustainability report, shareholders will vote on a binding bylaw amendment to create a board-level sustainability committee |
|
WGL Holdings Inc |
Mar 4 |
Adopt cumulative voting |
Last year the proposal, in its 24th year, fell just short of majority support; Evelyn Davis is the filer |
|
Whole Foods Market Inc |
Mar 8 |
Eliminate supermajority vote Director removal provisions Mechanism for Shareholder Dialogue Succession planning policy |
Controversial CEO has attracted the attention of shareholder proponents |
|
Walt Disney Corp |
Mar 10 |
Say on Pay Ex-gay nondiscrimination policy |
Going against traditional shareholder activism on EEO policies, the proposal seeks to amend the employment guidelines to prohibit discrimination against ex-gays. |