Medtronic PLC 

The annual proxy for this medical device company had the following proposals:  Proforma proposals on directors, appointment of auditors, and advisory vote on compensation  Proforma European proposals on share transaction authorities  Magni voted as follows  For proforma proposals: –Directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -Auditors – The company meets the criteria in Magni’s policy on auditor ratification. -Advisory […]

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Autozone, Inc. 

The annual proxy for this retailer of aftermarket automotive parts had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposal on omnibus incentive plan  Magni voted as follows:  For and against proforma proposals: –For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -For auditors – The company meets the criteria in […]

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Covetrus, Inc. 

The special proxy for this animal health company had a proposal to convert the preferred shares from a financing transaction into common shares.  Magni voted for the proposal. The chairman recommended voting for the conversion based on the cash savings on dividends. While such a consideration in important, there are bigger issues. Having a single class of stock so all shareholders have comparable rights is part of […]

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Cisco Systems, Inc.

The annual proxy for this technology services company had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposals to incorporate in Delaware and approve stock incentive plan  Shareholder proposal on independent chairman  Magni voted as follows:  For and against proforma proposals: –For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -For auditors – […]

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Microsoft Corporation 

The annual proxy for this software company had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Shareholder proposal on employee representation on the board  Magni voted as follows:  For the proforma proposals. –Directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -Auditors – The company meets the criteria in Magni’s policy on auditor ratification. -“Say-on-pay” – The disclosures in the proxy […]

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September 2020

Country Ranking Trends Magni recently completed a review of Market Integrity. China has made some progress in implementing prior commitments, thus justifying a small upgrade. The Philippines also made some progress in a few areas; however, material deficiencies remain unaddressed. These deficiencies prevent Magni from upgrading the country’s Market Integrity score. Everything About Brexit is […]

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