AB Featured in ISS’s 25th Anniversary Compendium
February 14, 2011
In a distinct honor, John Phillips, senior portfolio manager in Global Value Equities and chairman of Bernstein’s proxy voting committee, was invited to take part in Institutional Shareholder Services (ISS)’s 25 on 25: Observations on the Past, Present and Future in Corporate Governance compendium celebrating the 25th anniversary of the firm’s founding. ISS is the leading proxy voting research and advisory company, with more than 1,700 clients worldwide.
John joined 24 other experts chosen worldwide to provide perspectives on what they believed were the most important developments in corporate governance over the past 25 years. The essays cover a wide range of issues and viewpoints from all sides of the governance debate.
The compendium allowed AllianceBernstein to highlight the core principles behind the firm’s proxy-voting policies and its engagement with companies through the years. In his essay, John highlighted the firm’s strong and early support of key proposals that empower shareholders, such as majority voting for directors, the right to call special meetings and executive-compensation clawbacks, which allow a company to take back performance-based compensation in the case of fraud or a deliberate misstatement of financial results. The essay also explained our votes on some pay-for-performance proposals that we found overly restrictive or rules-based.
In sending John a complementary copy of the compendium, Dr. Martha Carter, Head of Governance Research at ISS, thanked him for his “very thoughtful and action-oriented piece.” His essay can be found on page 12 of the compendium below.
Please click here to view the Institutional Shareholder Services (ISS)’s 25 on 25: Observations on the Past, Present and Future in Corporate Governance compendium.