Proxy Blog

Walgreens Boots Alliance, Inc.

December 29, 2020

The annual proxy for this pharmacy-led, health and wellbeing company had the following proposals: 

  1. Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 
  2. Board proposal on incentive plan 
  3. Shareholder proposals on independent chairman and health risks from COVID-19 impact on tobacco sales 

Magni voted as follows: 

  1. 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. 
  2. For board proposal on incentive plan – Per Magni policy, Magni votes in favor of many of these proposals. 
  3. For and against shareholder proposals.
    For independent chairman – Per the Magni position paper, Magni routinely votes in favor of these proposals.
    -Against health risks from COVID-19 impact on tobacco sales – The proposal attempts to use the pandemic as an excuse to reconsider tobacco sales. The specific ask is a report that the impact of COVID-19 infections creates risks. By the time the report is complete, the pandemic will have ended.