Hot-button issues this year include climate change and board diversity.
THIS PROXY SEASON, BIG mutual fund companies and investors alike will get a chance to make their voices heard by corporate executives on key issues.
Shareholders will likely file 800 to 900 proposals— also called resolutions—this year with the goal of bringing a variety of initiatives to a vote at annual shareholder meetings. Top issues for 2019 proposals include climate change, corporate political contributions and gender diversity on executive boards. Although management isn’t obligated to act after the shareholders vote on such proposals, a majority vote in favor of a resolution sends a powerful message that executives often heed. Last year, for instance, a 69% vote in favor of disclosures on firearm safety at gunmaker Sturm Ruger prompted the firm to follow suit. In 2017, ExxonMobil agreed to produce reports on climate change after 62% of shareholders voted for the proposal.
This story is from the May 2019 edition of Kiplinger's Personal Finance.
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This story is from the May 2019 edition of Kiplinger's Personal Finance.
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