The annual proxy for this consumer goods manufacturer had the following proposals:
- Proforma votes on directors, appointment of auditors, and compensation
- Board proposals on International Stock Ownership Plan
- Shareholder proposals on report on efforts to eliminate deforestation and annual report on diversity
Magni voted as follows:
- For and against proforma proposals.
–For directors – The disclosures in the proxy 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 compensation- The disclosures in the proxy did not meet the criteria in Magni’s policy on the advisory vote.
- For board proposal on International Stock Ownership plan – The proposal meets the criteria in Magni’s policy on incentive plans.
- For shareholder proposals
–For report on efforts to eliminate deforestation – The shareholder proposal identified small but important deficiencies in the company’s environmental policy. The board response did not address the deficiencies.
-For annual report on diversity – The shareholder proposal identified a lack of transparency on diversity data. The company does not post or link to EEO-1 data (i.e., the required data submission to the US government). The board response did not address the topic of EEO-1 data. If the company published the data, linked to the data, or committed to publishing it, then Magni would have voted against the proposal.