Moving on up Starting in 2019, Saudi Arabia and Argentina will be considered part of the emerging markets. Saudi Arabia has taken steps to bring local capital markets more in line with international standards, including lowering restrictions on international investors. This is part of a reform driven by the Saudi government to diversify its economy […]

Before starting his brand strategy consulting business, author Douglas Spencer was a vice president and the Global Head of Brand Management at Thomson Reuters. Magni’s investment philosophy is centered on researching companies’ and countries’ good governance and proven behaviors, which are implicit factors in a strong brand. Consequently, it made sense to have Magni’s CEO […]

The proxy had two proposals related to the acquisition: To adopt the Agreement and Plan of Merger… To approve the adjournment of the special meeting… Magni voted against both proposals on the proxy. Most large acquisitions destroy shareholder value. Both McKinsey and Bain have done studies showing that many acquisitions destroy value. To increase the […]

In its May 2018 issue, Wealth & Finance International ‘s cover story is about Magni and “Researching Governance for a Better Investment.”  The following is an excerpt, and you can read the full article here, beginning on page six. “Around the world there are almost daily news stories about corruption by people in corporations and by […]

The annual proxy only had proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote: Magni voted for all proposals on the proxy. Directors. The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion in equity where the […]

The annual proxy for this distributor of pharmaceuticals and provider of health information technology and medical supplies had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Shareholder proposals on: -Greater lobbying disclosure -Prevent accelerated vesting of awards -Limit variable compensation of executives to GAAP financial metrics -Lowering threshold for special meetings  Magni voted as follows:  Magni […]

National Grid plc, a British multinational electricity and gas utility company, provided its annual proxy. This proxy had the following proposals:  Proforma votes on directors and appointment of auditors  Proforma European votes on approval of accounts and annual confirmation of authorities  Board proposals on: -Remuneration -Shortening the notice period for shareholder meetings  Magni voted as follows:  For proforma proposals. -Directors. The board has a majority of independent directors and some have […]

POSCO, a South Korean steel-making company, provided a proxy for a special meeting. The proxy contained only one proposal: elect an employee to the board.   Magni voted against the proposal as there was neither a rationale for the vote nor the qualifications of the employee to serve on the board. Magni views opaqueness as very detrimental to corporate governance, hence Magni will tend to vote against proposals on proxies that do not […]

The annual proxy had the following proposals: Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote Board proposals related to authorizing and reserving shares for compensation programs Magni voted for all proposals on the proxy. Directors. The board has a majority of independent directors and some have CEO/CFO experience with other companies. The […]