In Focus

CII Says Coronavirus Concerns Make Virtual-only Meetings Reasonable This Spring

Given the widespread public health emergency prompted by the coronavirus, “it is entirely reasonable that some companies will go to virtual-only annual meetings,” CII Executive Director Ken Bertsch said in a March 16 statement. CII has generally opposed virtual-only shareholder meetings, in favor of a hybrid approach. CII hopes that companies that hold virtual-only meetings “will make it clear that this decision is a one-off, tailored for current circumstances.”

CII Elects New Board, Approves New Policies and New Name for Voting Members

CII members on March 10 elected a new board for 2020-2021 (LINK to updated board page) that includes three new board members: Louis Malizia, International Brotherhood of Teamsters; Carolina de Onis, Teacher Retirement System of Texas; and Mitch Vogel, Illinois State Universities Retirement System. For the third year in a row, CII elected Ash Williams, State Board of Administration of Florida, as board chair. On the same day, members approved three new policies that address the role of stakeholders, stockholding periods for directors and proposals to expand corporate disclosure. CII voting members also approved changing their name from General Members to U.S. Asset Owner Members, to avoid confusion. The new name clarifies who is eligible for voting membership in CII (see announcement of new board and policy changes here.