MY friend Broc Romanek, a former SEC attorney and editor of CompensationStandards.com and TheCorporateCounsel.net, has just launched a new publication for investor relations, shareholder services and governance professionals with the very apt title of InvestorRelationships.com.
The publication is free for 2008 and the first issue, which includes several timely and practical articles packed with good tips and advice, is available now after a free sign up.
The highlight for me is an article titled The Coming Online IR Campaigns: The Future of Director Elections. In it, Broc makes the case for why companies need to be seeing their annual meetings as campaigns rather than isolated events or formalities:
Over the past year, a perfect storm has brewed to create a new landscape upon which future director elections
will be waged. On the one hand, there has been a spate of recent regulatory changes—ranging from e-proxy
to e-forum—as well as a voluntary movement away from plurality vote standards and towards majority vote
ones. On the other hand, more investors are willing to speak up and cast their votes against management
recommendations. Finally, it’s no secret that investors increasingly use the Internet to become educated and
take action.
On his blog today, Broc writes about the drama at Washington Mutual, which was targeted by the CtW Investment Group, part of Change to Win (CtW), a federation of unions representing nearly six million workers in the United States.
One director has resigned and there is doubt over the fate of two others. The campaign against WaMu has a strong online component, including the CtW Investment Group Blog, which launched April 4 and will likely be one of many of its kind that we can expect to see.
“Yes, the future is now,” says Broc.
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