The Securities and Exchange Commission may be dragging its feet on its proxy access proposals, but that hasn’t stopped shareholder activists from taking matters into their own hands. This proxy season, they have proposed scores of non-binding resolutions calling for companies to require directors be approved by a majority of voting shareholders in order to serve on a board.
For the past couple of years, activists have also mounted campaigns urging shareholders to withhold their votes from nominees they oppose in order to pressure companies to remove those directors from corporate board slates.
