Proxy Talk: Navient and Student Loans
Glass Lewis hosted a Proxy Talk to discuss Navient Corporation’s exposure to financial and reputational risks relating to the U.S. student loan crisis.
Navient, which services and collects student loans, is facing a shareholder proposal that asks the company to report on how it is managing its exposure, including at board level. It’s a new topic for a shareholder proposal and, given the growing level of interest around student loans, we thought that clients might benefit from some background and insights from a panel of experts — in this case, the proponents of the proposal.
You can listen to the audio here.
- Seth Magaziner, the General Treasurer of the State of Rhode Island
- Kelly J. Rogers, the Deputy Treasurer, Office of the State Treasurer of Rhode Island
- Sarah Ann Lewis, Sr. Lead Researcher for the AFL-CIO
- Courteney Keatinge (moderator), Director, ESG Research, Glass Lewis
- Introductions (1:05)
- Background on Rhode Island’s approach to stewardship (1:45)
- Background on the Navient proposal (4:20)
- Collaboration with AFL-CIO (7:45)
- Engaging with Navient (8:45)
- Navient vs other companies with similar exposure (12:40)
- Litigation complications? (15:10)
- Additional background from Sarah Ann Lewis (18:30)
- More info: contact Rhode Island Treasurer (21:15)
- Wrap up (22:25)
For more information on the proposal, please contact Kelly Rogers and the State Treasurer of Rhode Island: firstname.lastname@example.org
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