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ARTICLE · 15 JANUARY 2025

BlackRock's US Proxy Voting Guidelines Updates

Perkins Coie LLP
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BlackRock recently published its updated "Proxy Voting Guidelines for Benchmark Policies - U.S. Securities" for the 2025 proxy season, along with its 2025...

United StatesGovernment, Public Sector
Christopher Wassman
Christopher Wassman

BlackRock recently published its updated "Proxy Voting Guidelines for Benchmark Policies - U.S. Securities" for the 2025 proxy season, along with its 2025 "Global Principles for Benchmark Policies" and "Engagement Priorities Summary for Benchmark Policies." While many of its policies remain unchanged from last year, there are some notable revisions and additions that companies should be aware of:

  • Board composition: BlackRock has revised its guidelines relating to board "diversity," now focusing instead on "composition" and aligning board composition with the company's strategy, addressing gaps in skills and experience, and ensuring effective oversight of business risks and opportunities. The updated guidelines no longer include the recommendation that boards aspire to 30% diversity of membership or have at least two women directors and one director from an underrepresented group. However, BlackRock has indicated that to the extent an S&P 500 company board is an

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