The annual proxy for this drug wholesale company had the following proposals:
- Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote
- Shareholder proposal on independent chairman
Magni voted as follows:
- For and against proforma proposals:
–For directors – The disclosures meet the criteria in Magni’s policy on election of directors.
-For auditors – The company meets the criteria in Magni’s policy on auditor ratification.
-Against advisory vote – The disclosures in the proxy did not meet the criteria in Magni’s policy on the advisory vote.
- For independent chairman – Per the Magni position paper, Magni routinely votes in favor of these proposals.