Melissa Sawyer Talks to FT Agenda on Declining Support for Directors During Proxy Season

September 10, 2021

Melissa Sawyer, co-head of S&C's corporate governance practice, spoke to FT Agenda about why directors saw lower reelection support during the most recent proxy season, with more directors receiving less than 70 percent support this year compared to last. In particular, investors are willing to vote against directors who are perceived to be on too many boards, those with long tenures and those who are viewed as being unresponsive to prior shareholder proposals. Melissa observed that while overall support for directors is down, board diversity remains a key focus for investors: “A lot of institutional investors are highly focused on board diversity and are less likely to punish diverse directors for [proxy voting policies related to board diversity].” To read more, click here.

Read S&C's 2021 Proxy Season Review.