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ARTICLE · 04 JANUARY 2017

ISS And Glass Lewis 2017 Proxy Season Guidelines

Goodmans LLP
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Proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. (Glass Lewis) recently released their Canadian proxy voting policy updates for the 2017 proxy season.

CanadaCorporate/Commercial Law
Randy McAuley
Randy McAuley
Chris Sunstrum
Chris Sunstrum
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Summary

Proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. (Glass Lewis) recently released their Canadian proxy voting policy updates for the 2017 proxy season. The new guidelines address corporate governance standards, shareholder rights plans, executive and director compensation and audit related matters.

Overboarded Directors

Glass Lewis' 2017 guidelines codify its existing policy on director overboarding whereby, absent a sufficient rationale that allows shareholders to evaluate the scope of a director's other commitments as well as their contributions to the board, it will recommend voting against:

  • a director who serves as an executive officer of any public company while serving on a total of more than two public company boards; or

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