Cisco Systems’ ($CSCO) proxy statement in October will include a Proxy Advisor Competition proposal submitted by shareowner James McRitchie, editor of the leading Corporate Governance blog. Jim just published this post explaining it. [2013-11-05 PS: Jim has published another post, responding to Cisco management’s objections.]
Jim and I have worked together for years developing improved versions of this proposal (which is part of the broader votermedia project). It would increase competition in the market for proxy advice, and make professional advice available to all Cisco shareowners, not just the large institutions who now subscribe to advisory services. It helps solve the voters’ free-rider problem by paying for advice with their collectively owned corporate funds.
Votermedia Finance Blog 