Three reasons proxy access proposals fail
“[This] shows that shareholders are starting to think a little clearer about proxy access even though there is still a lot more work to be done in informing shareholders about the pros and cons of proxy access,” says Bernard Sharfman, adjunct professor of business law at George Mason University School of Business, associate fellow at the R Street Institute and an outspoken critic of proxy access.
“It also shows that boards are starting to get on top of the issue,” says Sharfman.
“The preemptive implementation of proxy access may simply have been a necessary evil in order to keep other, more harmful corporate governance issues off the table,” Sharfman adds.
