In its latest Proxy Update, Morrow Sodali reviews the changes to Glass Lewis’ and ISS’ Proxy Voting Guidelines for 2019 and for the EMEA region.
Institutional Shareholder Services (ISS) and Glass Lewis (GL) have published their guideline updates for the 2019 proxy season. Most updates contain codifications and clarifications of pre-existing policies or alignments with local legal or best practice provisions.
Combining policy updates across multiple markets allows to detect general trends at both proxy advisors. Overall, policies focus on the Board of Directors, such as collective and individual Director accountability, diversity, independence or Board skills and respective disclosure. Of note, both proxy advisors hold off from significant amendments to their expectations on executive remuneration as EU markets are starting to implement the Continental Europe Shareholder Rights Directive II.
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