News & Insights
Apr 2, 2020
As the COVID-19 pandemic has evolved, and as we noted in our prior blog post regarding virtual annual meetings, both ISS and Glass Lewis have issued guidance on virtual meetings and annual meeting best practices in response to COVID-19. Pivoting from its focus on annual meetings, Glass Lewis has issued a new release that highlights certain key governance areas that they will be paying close attention to in the coming months.
In assessing areas of corporate governance concern, Glass Lewis noted that it uses “context, discretion and pragmatism” to assess the reasonableness of companies proposed changes in light of the pandemic. Moreover, companies that have historically been known for good corporate governance and board level practices will be afforded more discretion when being reviewed. As Glass Lewis noted, “[g]ood governance is relevant in all types of weather, boom or bust, but there is no better way to observe the effectiveness of governance than in a crisis.”
As you are making decisions in order to adjust to developments in real-time, be particularly mindful of your executive compensation, board composition, shareholder participation and overall corporate governance practices, and the ways that you enhance them because COVID-19 may reveal or highlight an unknown or previously overlooked weakness or weaknesses in unexpected ways.
If you have any questions or need assistance please contact any of the Related Professionals, any other member of Waller’s Capital Markets & Securities practice or your regular Waller contact at (615) 244-6380.
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