Shareholders & Activism

This week’s governance, compliance and risk-management stories from around the web On the latest episode of the Governance Matters podcast, editor Laurie Havelock is joined by senior reporter Natalie Bannerman to discuss all the latest goings on from the world of GRC. ISS has unveiled its 2026 benchmark policy updates, ushering in a greater focus on that transparency and accountability across all jurisdictions. At the same time, the SEC’s 2026 exam priorities spotlight data privacy and – for the first time in years –exclude cryptocurrencies, signalling a softer stance on the asset. Also, fresh on the heels of the Corporate…

Proxy advisor has released its latest policies for the 2026 proxy season, signalling a change in expectations James Burnham has been named as the new general counsel at Elon Musk’s technology company xAI. Revealed in short mention at the end of a press release, Burnham joins following his tenure at the Department of Government Efficiency(DOGE) as general counsel. Prior to this he also held roles like senior associate counsel at The White House under the Trump Administration and counselor to the attorney general at the US Department of Justice. Burnham succeeds Robert Keele who stepped down as head of legal…

Jerry Bowyer talks about why his ESG-skeptic guidelines advise a yes vote at today’s ‘triggering’ Tesla AGM ISS is recommending against Tesla CEO Elon Musk’s $1 tn compensation package. Glass Lewis too. CalPERS and NBIM, manager of the world’s most valuable sovereign wealth fund, have each come out publicly against. But with the Tesla AGM happening today online and at Tesla’s Gigafactory Texas, one small, family-run proxy advisory firm – whose ESG-skeptic voting guidelines are offered by ISS, and which boasted the $57 bn Texas Permanent School Fund as the first state fund to sign up – is backing Musk’s…

Proxy advisor changes course on standard voting package in favor of customized or thematic plans Glass Lewis has announced plans to retire its long-standing practice of issuing single, default ‘benchmark’ voting recommendations based on a fixed house policy. Instead, the firm will offer clients a choice of perspectives aligned to management, governance, activism or sustainability. The shift marks a move from a ‘one size fits all’ model to a fully customizable framework. The decision follows a similar development by Institutional Shareholder Services (ISS), which recently launched governance research services that exclude voting recommendations, providing clients with customizable data, analysis and…

NYSE-listed bedding company Somnigroup Internationalhas announced the promotion of chief human resources officer Kindel Nuno to the role of chief human resources officer and general counsel. ‘Combining the roles of chief human resources officer and general counsel brings greater efficiency and agility to the HR and legal functions at the parent company level,’ said Scott Thompson, Somnigroup’s chairman, CEO and president. ‘Over the course of her 18-year legal career, Nuno has navigated numerous challenges and strategic events impacting Mattress Firm and other clients she represented. Through those experiences, she brings clarity, confidence and integrity to complex decisions, which I know…

This week’s governance, compliance and risk-management stories from around the web – Shareholder advocacy groups As You Sow and ICCR have filed a formal letter with the SEC requesting that it rescind its no-action relief allowing ExxonMobil to implement its proposed Retail Voting Program. The scheme would allow retail shareholders to automatically vote in line with the board’s recommendations at annual meetings, aiming to counter activist shareholder campaigns. In the letter, the groups argue that the program may result in many retail votes being automatically cast in favor of management – unless shareholders actively opt out or override – effectively…

Detailing board and management priorities for the year head How do boards stay ahead of the curve in a constantly evolving business landscape? The answer lies in their ability to adapt, innovate and lead with confidence. Effective boards are doing just that. To see how boards are guiding their companies to be more resilient, the EY Americas Center for Board Matters conducted a survey with corporate board members of nearly 200 public company directors. What we uncovered are four strategies to help boards steer their companies through uncertainty. Jamie Smith,director, board matters investor outreach and corporate governance at EYAmericas Center…

AI investor cloning can help remove guesswork Recently Blackstone announced its plans to invest $500 bn in Europe over the next years. Did you see this coming and will some this capital flow into your company? Imagine if your governance team could predict with some certainty what your investors are going to think, say and do with respect to your company. In fact, doing just that has become a lot easier and more accurate using the AI toolset to clone investor AI programs. Most articles on how AI can help investors are about detecting general investor trends, analyzing sentiment and…

Political pressure and regulatory change pose a challenge to IR and governance teams Shareholder engagement remains a top priority for companies navigating today’s complex capital markets. Proactively engaging key shareholders allows companies to communicate their long-term strategies, explain operational decisions and develop and strengthen relationships with this key stakeholder group. This need for engagement has only grown amid unstable economic conditions, including supply chain issues, inflation, tariffs, trade tensions and related market volatility. Recent anti-DE&I and anti-ESG movements, executive orders issued by the new US administration, changing proxy advisory firm policies and renewed efforts by shareholder activists all underscore the…

The movement fell flat in 2025’s proxy season with most proposals receiving less than 2 percent investor backing Shareholders sent companies a clear message this proxy season: anti-DE&I proposals do not have their backing. At 30 of the largest US companies, together worth over $13 trn, every anti-DE&I proposal was rejected, with most receivingless than 2 percent supportfrom investors, according to nonprofit Impactivize. These proposals, which aimed to roll back corporate DE&I efforts, made upabout 40 percent of all DE&I-related proposalsthis year, a sharp increase from 23 percent in 2024. Despite growing political pressure against DE&I and ESG initiatives, shareholders…