The Securities and Exchange Commission’s proposed proxy-access rule might be wandering the back roads of corporate governance, but the controversial measure has already shifted the governance landscape.
The proposal, which would enable shareholders of a company to nominate their own corporate directors in certain situations, has gotten buried under a long list of SEC priorities—as well as corporate and political pressure. But the measure has already caused investors to push forward on related initiatives, and executives—fearful of a pitched battle—are listening.
