As reported earlier (See Protesting Symantec’s All-Virtual Annual Meeting, 22 Sep, 2010) Symantec Corporation set the pathetic precedent of being the first Fortune 500 company to hold a virtual-only annual meeting without shareowner-approved safeguards to protect participant rights. That happened September 20, 2010. But two weeks later, Symantec has backed down. Responding to a letter writing campaign organized by the United States Proxy Exchange (USPX), which received national media attention, Symantec announced they will not hold a virtual-only annual meeting in 2011. Reuters broke the story.
This wonderful news came on the heals of shareowners’ success convincing Intel to scrap plans to hold a virtual-only meeting in 2010. Intel held a hybrid meeting instead.