Proxy Monitor Examines the Impact on Shareholder Proposals from Three Frequent Sponsors – Individuals, Socially Responsible Investors and Labor-Affiliated Funds
August 21, 2014 | Ning Chiu
The NYTimes Dealbook recently focused on a Proxy Monitor study that found that 70% of shareholder proposals submitted by individuals to Fortune 250 companies in 2014 were sponsored by three people and their family members − John Chevedden, William Steiner and James McRitchie. Over the last nine years, the Cheveddens have filed 232 proposals, with about 19% receiving majority support, while the Steiners made 215 submissions, with 29% passing. According to the report, Evelyn Davis only submitted one proposal in 2014, and none in 2013. Although her success rate for passing proposals is around 1%, the Dealbook article discusses her newsletter that many companies felt compelled to buy and other perks she received.
The focus on "corporate gadflies" is one... Read More