DATE PUBLISHED: FEBRUARY 29, 2024
The 2024 proxy season opened with two explosive court cases: a landmark Delaware court ruling that vacated Elon Musk’s pay and ExxonMobil’s court challenge to exclude a shareholder proposal on greenhouse gas emissions reduction from the proxy. These court cases highlight the emerging tensions between corporates and their shareholders. While calls for more robust governance and board accountability are growing, pressure against Environmental & Social considerations is increasing. Both investors and issuers will need to navigate these sometimes-competing trends carefully and evaluate the impact their actions may have on various constituencies as issuers prepare their proxies and shareholders cast their votes.
ISS-Corporate has examined key themes, trends, and notable shareholder proposals that are likely to shape the discourse during the proxy season.
