Proxy Blog

Albermarle Corporation 

May 2, 2019

The annual proxy for this chemical company had the following proposals: 

  • Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 

Magni voted for 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 using a benchmarking process. 
  • Auditors – There appear to be no controversies with the financial statements of the company. 
  • Say-on-pay” – The proxy materials documented shareholder engagement activities and clarified that executive compensation was part of the discussionsThe peer group was listed and objective criteria for construction of the group were listed.