July 2018

Country Ranking Trends Magni completed a review of corporate governance infrastructure. Companies in countries with an infrastructure conducive to transparent, honest, and efficient business activity tend to grow and prosper more easily. The review identified many small changes to our scores for this economic standard. Australia, Belgium, India, Indonesia, and Portugal were upgraded for progress […]

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McDermott International 

The annual proxy for this engineering, procurement, construction, and installation company had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Magni for all proforma proposals:  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 equity has restrictions to align director incentives with long-term value creation. The […]

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Conagra Food

The annual proxy for this food company had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Magni for all proforma proposals:  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 equity has restrictions to align director incentives with long-term value creation. The compensation levels are set […]

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Diageo

Diageo, an alcoholic beverages company, provided its annual proxy. This proxy had the following proposals:  Proforma votes on directors and appointment of auditors  Proforma European-style votes on approval of accounts, annual confirmation of authorities, and compensation plans  Board proposal on adopting new articles of association  No supporting materials were available. Even the proxy voting site and the company website did not have materials.   Transparency is a core element of […]

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Governance and Sustainability

August 2018 The following article, co-authored by Magni CEO Kurt Lieberman, appears in this month’s Responsible Finance & Investment, the newsletter of the RFI Foundation. Sustainability is at the forefront of many discussions about the future, yet the word is so often taken for granted that it generally goes undefined. Among Webster’s definitions for “sustain”, healthy […]

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NETAPP

The annual proxy had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposals on: -Amend the stock option plan to increase share reserve -Amend the employee purchase plan to increase the share reserve -Ratifying the stockholder special meeting provisions in existing bylaws  Magni voted as follows:  Magni voted for all proforma proposals. -Directors. The board has a majority of independent directors and some have […]

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