Cultivating relationships with proxy advisors

From the moment they arrived on the scene en masse after the Enron crisis, proxy advisors have been stirring up controversy. Doug Wilburne, vice president of IR at Textron in Providence, Rhode Island, believes the rise of proxy advisers has led to unintended consequences. In the interest of demonstrating diligence vis-à-vis governance issues for the companies they own, money managers have hired proxy advisers with strong views. What’s happened, Wilburne says, is that ‘investment firms are voting against a company, its management and its board when those investment firms are delighted with that company, its management and its board.’

Hier geht es zum Artikel, erschienen im IR Magazine