Proxy Blog

Archer-Daniels-Midland Company 

April 15, 2019

The annual proxy for this food processing and commodities trading corporation 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 and there are ownership requirements. 
  • Auditors  There appear to be no controversies with the financial statements of the company. 
  • “Say-on-pay” Advisory Vote – The shareholder engagement efforts are meaningful. The peer group is published and the criteria is objective.