November 22, 2010
Teachers' has updated its Corporate Governance Policies and Proxy Voting Guidelines for the 2011 proxy season.
"Our guidelines continue to evolve to reflect increased public expectations for effective corporate governance," said Wayne Kozun, Senior Vice-President, Public Equities. "The main theme behind the most recent changes is that company directors should be more accountable and ensure they are truly supporting the long-term interests of the corporation and its shareholders."
The update includes revisions to five of the voting guidelines related to:
- Director independence and adoption of shareholder proposals
- Directors who fail to receive majority support
- Use of binding arbitration to limit an audit firm's liability
- Transactions to collapse dual-class share structures.
Teachers' reviews its governance policies and proxy guidelines annually and updates them as necessary. The complete 2011 guidelines are available here.
Director, Communications and Media Relations
Ontario Teachers' Pension Plan