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ARTICLE · 25 NOVEMBER 2020

Proxy Season 2021: Navigating Turbulent Times

This update presents our predictions, based on the current governance environment, and our recommendations on issues that should be important when preparing for the upcoming proxy season.

CanadaCorporate/Commercial Law

This update presents our predictions, based on the current governance environment, and our recommendations on issues that should be important when preparing for the upcoming proxy season. This year's update takes into account comments made by representatives of institutional investors and governance organizations at a webinar we held recently, and provides guidance to help issuers navigate turbulent times.

Purpose: A meaningful umbrella?

When the Statement on the Purpose of a Corporation1 was released by the Business Roundtable a little over a year ago, its signatories could not have predicted that a once-in-a-century global pandemic was looming on the horizon. And yet, the timing of its statement could not have been more fitting, as in the context of the multi-faceted crisis, corporate directors will most likely have to demonstrate how, through executing a clearly stated purpose, they took into account the interests of various stakeholders. 

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