Proxy Blog

Whirlpool Corporation 

April 3, 2019

The annual proxy for this manufacturer of home appliances had the following proposals: 

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

Magni for proforma proposals: 

  • 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 incentives with long-term value creation. The compensation levels are set using a benchmarking process. 
  • Auditors  There appear to be no controversies with the financial statements of the company. 
  •  “Say-on-pay” Advisory Vote – The shareholder engagement and peer group disclosures indicate good governance practices in executive compensation.