Glass Lewis Acquires Meetyl

Glass, Lewis & Co., a leading global provider of governance research and technology services to institutional investors, today announced the acquisition of Meetyl, a technology company that enables direct engagement between investors and issuers.


S.K. Jain and the Frailties of Indian Corporate Governance

The Indian banking system is under scrutiny after Syndicate Bank’s (NSE: SYNDIBANK) chairman and managing director S.K. Jain was arrested for allegedly accepting INR 5 million in bribes to improve the credit of companies including Bhushan Steel Ltd. (NSE: BHUSHANSTL) and Prakash Industries Limited (NSE: PRAKASH). Yet, despite the gloom of Mr. Jain’s arrest, there may be good news for India’s corporate governance as this incident has identified a serious frailty involving the concentration of power among executive directors and the need for improved board oversight.

Daniel J. Smith Named Director of Research at CGI Glass Lewis

CGI Glass Lewis, the Australian subsidiary of the leading independent governance analysis and proxy voting firm Glass Lewis & Co., today announced the appointment of Daniel J. Smith as Director of Research.

, , ,

Proxy Season Insider: Teva Pharmaceutical Industries Ltd.

Teva Pharmaceuticals’ upcoming annual meeting will be rocked by an unprecedented “vote No” campaign from two individual dissident shareholders who describe themselves as unintentional activists. The dissidents are encouraging other shareholders to oppose the re-election of a director nominee and the approval of a directors’ and officers’ liability insurance policy.

, , , ,

Proxy Season Insider: Banco Espírito Santo

Banco Espírito Santo was unexpectedly thrust into the spotlight earlier this week when it sparked a steep but short-lived decline in global stock markets. Shareholders will be carefully watching the Company’s next moves, including the likely contentious upcoming general meeting called at the request of the largest shareholder, the Espírito Santo family, to reorganize the board and management. Considering that the Company’s problems stem from poor corporate governance and risk management practices by the Espírito Santos within their opaque business empire, the proposals will be highly scrutinized.