Preparing for the 2011 Proxy Season
John C. Wilcox
This Director Notes discusses the major likely characteristics of the 2011 proxy season as well as a number of practical recommendations to help boards take charge of corporate governance, improve communications, and manage relations with shareholders. The financial crisis has ushered in a new era of governance standard setting, with new initiatives to strengthen oversight responsibilities from lawmakers and regulators around the globe. Under increased scrutiny, in the upcoming meeting season boards of directors are expected to be forthcoming about how critical governance measures (from say-on-pay to risk oversight, and from CEO succession planning to anti-takeover defenses) are being implemented and how they relate to business strategy and economic performance.