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If one New York Times feature on a key activist investor concern is good, then two in a week is better, right?
Last Tuesday, Andrew Ross Sorkin, peripatetic editor of the DealBook section at the paper of record, covered a fascinating (to corp gov wonks) and relevant (to PMs) debate over staggered BoDs. Two days earlier, Gretchen Morganson, veteran and wise Sunday business columnist there, went after Whole Foods for its clever subversion of proxy access.
Earlier, we explained the Whole Foods mess. In a current blog post, we explore the classified board situation. It mainly concerns a wonky-yet-fierce academic debate over SEC procedures for proxy materials supporting shareholder voting on board declassification resolutions (whew!). While it probably won't change much about classified boards, it could have an impact on the underlying shareholder proposals. As these proposals gain in popularity, PMs should pay attention.
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