The annual proxy for this consumer goods company had the following proposals:
- Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote
- Shareholder proposals on independent chairman and lowering threshold for special meetings
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 shareholder proposals.
–Independent chairman – Magni wrote a position paper regarding shareholder proposals for independent chairman.
-Lowering the threshold for special meetings – Per the Magni position paper, Magni routinely votes in favor of these proposals.