Continuing a trend of narrowing the scenarios in which companies can exclude shareholder proposals from the proxy statement, the SEC staff will not allow companies to exclude shareholder proposals which ask company boards to "adopt a payout policy that gives preference to share repurchases instead of cash dividends" according to Davis Polk.
This week, a coalition of the US's largest institutional investors led by JP Morgan CEO Jamie Dimon and investment mogul Warren Buffet met to discuss concerns with a growing emphasis on short-termism as well as ways to improve shareholder and company relations according to reports by the Financial Times.
Mr. Floersch served as Executive Vice President and Chief Human Resources Officer of McDonald`s for over a decade and will serve as the Center's Senior Strategic Advisor.
In 2012, 130 S&P 500 companies received a year-over-year change in SOP support of over 10 percentage points. In 2013, there were 107 companies. In 2014, there were 90.
During the 2013 proxy season, 466 S&P 500 companies reported say on pay results. 460 companies (98.71%) reported received majority support, averaging 91.84% support with a median of 95.49%.