State Street Calls on Companies to Evaluate & Disclose Compliance with ISG Governance Principles

By Randi Morrison posted 03-08-2018 02:00 PM

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This new post from Davis Polk Counsel & Society member Ning Chiu describes State Street Global Advisors' recent letter to portfolio S&P 500 directors calling on those companies (initially, as per the must-read guidance accompanying the letter) to evaluate and disclose their compliance with the Investor Stewardship Group Corporate Governance Principles. Companies that can't adequately explain (either publicly or via engagement) why they aren't compliant will trigger a vote against the independent chair, lead independent director or most senior independent director up for election (in that order).

Watch for more information in tomorrow's weekly Society Alert, and see our prior reports on the ISG Stewardship & Governance Principles: "Investor Stewardship Group Seeks Disclosure on Corporate Governance Principles," "Investor Stewardship Principles: How Companies/Boards Should Prepare, "Investor Coalition Launches Stewardship & Governance Principles," "SSGA Demonstrates Compliance With New US Stewardship Framework," "Investor Stewardship Group: A Corporate Governance Game-Changer?," and additional relevant resources on our Corporate Governance Codes & Guidelines topical page.

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