Tag Archives | virtual-only meetings

Virtual-Only Meetings: The Nuclear Option

Virtual-Only Meetings Growth

Virtual-Only and Hybrid Meetings Data Reported by Broadridge in the FT

Virtual-Only Meetings are quickly being adopted by entrenched boards who fear both adverse publicity and any attempt by shareholders, especially retail shareholders, to hold them accountable. Broadridge Financial Solutions ($BR) has a direct financial incentive to push companies toward virtual-only meetings. Although many funds and organizations oppose such meetings, no one in the opposition has a such a direct financial incentive to oppose them. 

Take Action: Vote against any all all directors serving on governance or similar committees at companies that hold virtual-only meetings.  Continue Reading →

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Virtual Meetings: Can Shareholder Proposals Stem the Tide?

virtual meetingsVirtual meetings are quickly being adopted by entrenched boards who fear any attempt by shareholders, especially retail shareholders, to hold them accountable. Annual meetings are the only place shareholders are likely to meet with the managers and boards of the companies they invest in, as well as with employees of those companies and with other shareowners. Comcast (CMCSA) spins their May 16 meeting as one that “will provide expanded shareholder access and participation, improved communications and, over time, cost savings for our shareholders and company.”

Virtual Meetings: The Liecomcast

If their real concern was to please their shareholders, Comcast would hold a hybrid meeting — allowing shareholders to attend in person or via the Internet. Don’t let them fool you, Comcast is locking out its shareowners to avoid embarrassing questions and accountability, not to reach out and communicate with their shareholders or to save a few dollars on coffee or a room rental. Shareholders are not clamoring for virtual-only meetings. The Council of Institutional Investors ($3 trillion in member assets) maintains a policy favoring hybrid meetings but clearly opposes stand alone virtual meetings:  Continue Reading →

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