The Hewlett-Packard director elections of John H. Hammergren and G. Kennedy Thompson will be the first vote included in the 2013 AFL-CIO Key Votes Survey. The HPQ shareholder meeting is scheduled for March 20, 2013. Votes “AGAINST” HPQ directors Hammergren and Thompson are consistent with the AFL-CIO’s Proxy Voting Guidelines (Item #1-04 and #1-09 on HP’s proxy card).
HPQ is not in my portfolio, so I won’t be providing an analysis of all the directors and issues on the proxy. However, I would note that Proxy Democracy.org is an excellent source to see how others are voting. I would also draw your attention to the proxy access proposal, placed on the ballot by management after bowing to shareowner pressures last year. Although the provisions for proxy access are far from ideal, I would join in those voting for it, if I owned stock in the company. I would also vote in favor of the proposal entitled, Executives To Retain Significant Stock.
For more information regarding this director election, please see the links below:
- ISS, Notices of Exempt Solicitation and HP
- Florida Board, AFSCME Pension Plan Reveal Hewlett-Packard Votes, Pensions & Investments, March 11, 2013
- NYC Comptroller John C. Liu, Pension Funds To Vote Against Hewlett-Packard Directors, March 8, 2013
- ISS Urges ‘No’ Votes at H-P, Wall Street Journal, March 5, 2013
- CtW Investment Group, Letter to HP Shareholders, February 25, 2013