Proxy access will likely be a top concern among shareholders in 2016, according to Pittsburgh M&A partner Hannah Thompson Frank, as discussed in a feature by Bloomberg BNA last week. In the November 17 BNA Spotshot article “Hot Topics for Proxy Season,” BNA relates Frank’s observation that financial services companies are receiving shareholder proposals calling for changes to corporate clawback policies.
Frank’s comments, made during McGuireWoods’ November 17 webinar on trends in proxy issues, include advising clients to “take a look at their board composition, overboarding (in which one individual serves on boards of multiple companies), skills a director brings to a company, and board composition.” She says these issues could become increasingly important to shareholders in the upcoming proxy season. She also suggests that management describe the level of commitment each board member has to the company and why the director has the right expertise for the position.