Proxy Season Survival Kit

In the January 2009 issue of Corporate Secretary, Executive Editor Brendan Sheehan provides a “Proxy Season Survival Kit,” which includes survival tips from Georgeson’s President, David Drake.

As Drake explained in Georgeson’s Annual Corporate Governance Review, Corporate Secretary agrees that the 2008 proxy season was not the boon for which activists had been hoping. Sheehan wrote how roller coaster financial markets shifted the focus from activism to simply trying to survive.

Do not consider activism down for the count though. In the article, Drake predicts that even with a significant shake out, there could be nearly 2000 hedge funds left, which will provide a solid base for future activism: “It is possible though that, come mid-year, they [hedge funds] will be back with a vengeance.”

Hot Topics for the 2009 Season

In the “Proxy Season Survival Kit,” Drake says he expects to see a large number of proposals on limiting golden parachutes, linking pay to performance and anti-tax-gross-up policies.

In the end, Corporate Secretary’s Sheehan explained that, “engagement will continue to be the name of the game and more companies will increase efforts to reach out to shareholders.”

To understand all the issues related to the 2009 proxy season and how to effectively engage your shareholders, please contact your account executive or call Georgeson at 800 445 1790.