Institution Theme Category Discussion Questions
  • Goldman Sachs Asset Management
  • Governance
  • Board & Governance
Company Year Market Source Link
Not Disclosed - A US Aerospace and Defense Company 2020 US Stewardship Report 2020 https://www.gsam.com/content/dam/gsam/pdfs/common/en/public/miscellaneous/GSAM_Stewardship_Report.pdf?sa=n&rd=n

The GSAM Global Stewardship Team has engaged with the company’s Chief Financial Officer, Head of Investor Relations, General Counsel and Chief Accounting Officer to discuss corporate governance and executive compensation practices concerns. Our team has engaged with the company two times over the last two years. During the most recent meeting, the company noted several improvements to corporate governance as a result of investor feedback, including:
• Phased in the annual election of directors beginning in 2020; to be completed in 2022.
• Eliminated supermajority voting provisions at the end of 2019.
• Implemented a majority voting provision effective 2020 in response to a shareholder proposal the company received at last year’s annual general meeting, despite the proposal not receiving a majority of votes.
• Amended proxy access in December 2019 to settle a shareholder proposal received ahead of the 2020 annual general meeting.
The company also noted their deliberate decision to mention ESG in their 2020 Proxy Statement to further their commitment to improving disclosure on material ESG topics. The company has had two management committee meetings to discuss ESG, and plans to assess internal ESG practices ahead of next year’s reporting period.

Related Details

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  • Improvements to Board Practices
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