The annual proxy for this marketer of consumer and commercial products had the following proposals:
- Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote
- Shareholder proposal on written consent
Magni voted as follows:
- For and against proforma proposals.
–For and against directors – The disclosures meet the criteria in Magni’s policy on election of directors. That said, Icahn has two representatives on the board. We voted against one of the two nominees. We voted against Brett Icahn as he has narrower business experience.
-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.
- Against shareholder proposals on written consent – Per the Magni position paper, Magni routinely votes against written consent proposals.