If you have spent any time looking at the ProxyAnalyst, you know that our focus is on proxy voting. A potentially deadly-dull subject for the uninitiated, in reality having a proxy is like having a ticket to the Coliseum when the Christians and the lions do battle. While the lions usually have the edge, it’s not always certain who will win.
In the corporate arena, watching shareholder meetings play out can be fascinating if you know what to look for. Does an undeserving director get reelected? Will that CEO really get that gargantuan bonus? The trick is having a play book to follow what is going on. The play book when voting for directors and deciding which way to go on proposals are the Proxy Voting Guidelines. Here at the ProxyAnalyst, we refer to guidelines as Proxy Voting Strategies.
For those of you who don’t have the time or the inclination to understand the nuances of corporate governance but just want to make an informed vote, our Proxy Voting Strategies will do the trick. Our Strategies are designed to help you make voting decisions, pure and simple. However, if you are interested in digging a bit deeper into the subject, a great number of institutional investors have developed proxy voting guidelines that they have published on their web sites. In addition, shareholder groups have developed model guidelines, which they have shared.
Today I came across some really excellent guidelines produced by the Council of Institutional Investors (CII).Their Corporate Governance Policies cover the topic succinctly and in a readily understandable format. While they do not provide tactical advice to individual shareholders about voting, the Policies give readers a good understanding of the issues.
Give the CII Corporate Governance Policies a read.
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