In a letter to the editor published in the April 2 Wall Street Journal
, CII Executive Director Ann Yerger asserts that the benefits of shareholder proposals far outweigh any costs. Her letter responds to an Op Ed in the March 27 Journal by NASDAQ Executive Vice President Edward Knight. In that piece, Knight argues that the bar for submitting shareowner proposals to companies must be raised.
CII is urging the SEC to ensure full disclosure of payments by nominating shareholders to directors or nominees for board seats. In a March 31 letter
, CII notes that transparency about potential conflicts of interest between directors and nominees will help investors vote thoughtfully in proxy contests. The surge in contested elections and debate about whether nominees and directors should accept payment from outside the company prompted CII to ask the SEC for guidance or new rules.