Diageo, an alcoholic beverages company, provided its annual proxy. This proxy had the following proposals:
- Proforma votes on directors and appointment of auditors
- Proforma European-style votes on approval of accounts, annual confirmation of authorities, and compensation plans
- Board proposal on adopting new articles of association
No supporting materials were available. Even the proxy voting site and the company website did not have materials.
Transparency is a core element of good governance. This opaqueness is very contrary to good governance. Magni voted against all 19 proposals.