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August 2019

Country Ranking Trends Magni completed a review of the Czech Republic. The country received a small upgrade for tangible progress in implementing previously adopted reforms to strengthen the integrity of the country’s markets. Sino-American Trade: Skirmish, Cold War, or Prelude to War? News outlets contain daily articles on the discussions and related actions of China […]

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Procter & Gamble 

The annual proxy for this consumer goods manufacturer had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposals on long-term incentive plan and permitting board amendments  Magni voted as follows:  For and against proforma proposals. -For 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 […]

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Fedex Corporation

The annual proxy for this courier delivery service had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Shareholder proposals on: -Lobbying disclosure -Employee representation on the board  Magni voted as follows:  For and against the proforma proposals. -For 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 […]

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July 2019

Country Ranking Trends Magni completed reviews of Canadian financial services regulation and Chinese market integrity. The Canadian review focused on banking and insurance regulation; in both cases, the review confirmed prior determinations. The China review produced a small downgrade as important legislation to make transactions more transparent has not been implemented as previously believed. Beyond […]

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What You Can’t See…

By Kurt Lieberman, CEO, Magni Global Asset Management August 2019 There is an old expression: “What you can’t see can’t hurt you”. I was reminded of it as I watched the excellent HBO miniseries called “Chernobyl”. The five-part series chronicles the explosion of a nuclear reactor in the Soviet Union in April 1986. The series reveals the limited understanding of radiation on the part of the citizens in the […]

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NetApp, Inc. 

The annual proxy for this cloud data services and data management company had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposals on amending the stock plan and the employee purchase plan  Magni voted as follows:  For and against proforma proposals. -For directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The […]

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Darden Restaurants, Inc. 

The annual proxy for this restaurant company (e.g., Olive Garden, LongHorn Steakhouse, The Capital Grille) had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Magni voted for and against proforma proposals.  For 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 […]

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June 2019

Country Ranking Trends Magni completed a review of each country’s regulation of the corporate governance environment. Both Japan and China were upgraded for progress in implementing reforms to ease the rules for businesses. The upgrades were small and did not affect relative country rankings. The Chinese upgrade is significant as it has been more than […]

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Electronic Arts

The annual proxy for the video game company had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposal on equity incentive plan  Board and shareholder proposals on threshold for special meetings  Magni voted as follows:  For and against proforma proposals. -For directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation […]

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Xilinx 

The annual proxy had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposals related to reserving shares for compensation programs  Magni voted as follows:  For and against proforma proposals. -For 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 […]

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