CII issued this statement yesterday indicating that it expects a number of companies to use a virtual-only meeting format this year in light of coronavirus-related concerns and believes this is a reasonable approach, but that it hopes companies make clear that this is a "one-off" decision based on the circumstances and that they will adhere to virtual meeting best practices. Executive Ken Bertsch added: "[C]ompanies that do hold in-person meetings should be flexible with shareholder proponents on presentation of shareholder proposals, accommodating travel restrictions that they may face.”
And New York City Comptroller Scott Stringer reportedly told Dealbook that "the funds he oversees 'will not take action against boards holding virtual-only annual meetings due to the coronavirus that disclose their rationale and affirm their commitment to holding in-person meetings in the future.'”
See CII's publication "Build a Better Meeting," which we reported on here, and the Best Practices Committee for Shareowner Participation in Virtual Annual Meetings: "Principles and Best Practices for Virtual Annual Shareowner Meetings." This post first appeared in the weekly Society Alert! Stay tuned for more investor views in this week's Society Alert.