Proxy Blog

The Gap, Inc. 

April 28, 2020

The annual proxy for this clothing and accessory retailer had the following proposals: 

  • Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 

Magni voted for and against proforma proposals. 

  • For and against directors – The board has three brothers of the Fisher family. Two have no committee assignments. Only one member of the family is needed on the board, so Magni voted against John Fisher and William Fisher.  
  • For auditors – There appear to be no controversies with the financial statements of the company. 
  • Against say-on-pay” – The disclosure in the proxy did not include a benchmarking of the company against the peer group.