Nearly two-thirds of investors say proxy adviser ISS should recommend voting against the election or re-election of a board chair if they are not “independent”, regardless of the overall independence of the board.
The independence of company chairs in Europe could figure heavily in the deliberations of one of the chief proxy advisers as it formulates its policies for the 2020 season of annual meetings.
Institutional Shareholder Services (ISS) found that nearly two-thirds (62%) of investors who responded to a survey believe the proxy adviser should recommend voting against the election or re-election of a board chair if they are not “independent”, regardless of the overall independence of their board.
That said, a majority of non-investors (company directors and corporate advisers) believe ISS should stick with its current policy of only recom
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