Recent governance trends were highlighted in the December 5 Deloitte Dbriefs webcast titled “2012 Proxy Season Observations: Looking Ahead to the 2013 Season.” The session was hosted by Donna Epps, a partner at Deloitte Financial Advisory Services LLP.
Participants heard insights from Francis Byrd, principal of Byrd Governance; Darla Stuckey, senior vice president of the Society of Corporate Secretaries and Governance Professionals; and Maureen Errity of Deloitte LLP, director of Deloitte’s Center for Corporate Governance. They addressed a number of developments in corporate governance, including shareholder proposals related to proxy access, board composition and diversity, board classification, leadership structure, and others. The type and number of shareholder proposals have been relatively consistent year over year (369 proposals voted on in 2011 compared to 366 in 2012).
Although many proposals voted on do not pass, there was been a slight increase in the number of proposals that have passed in the governance board/voting structure area (54 in 2011 and 72 in 2012) This year, there has also been a lot of attention this year on lobbying and political contributions, perhaps due to the recent national elections. The panelists agreed that looking ahead to 2013, there are likely to be about the same, if not fewer, proxy proposals submitted, with a potential increase in proxy access proposals…Continue reading