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Director-Investor Communication Is Coming. Here’s How to Do It

for DeAnnIf the surprise-packed 2015 proxy season carried any lesson, it was that the era of shareholder-director communication has arrived—especially as an antidote to (or a prophylactic against) the challenge of activist investors.

But just when you think a practice is settled, new uncertainties pop up. Some bear special attention, as they carry potentially profound consequences.

First, it’s true that many companies and advisers now accept that at least some directors should have the task of communicating with investors in their job descriptions. But directors are only just beginning to address whether they have...

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