On August 1, 2011, ISS published its preliminary report of the 2011 proxy season. The report is available for download here (free registration required):
http://www.issgovernance.com/docs/2011USSeasonPreview
Key findings of the report include:
- Average support for Say on Pay votes was 91.2%
- Say on pay votes failed at 37 Russell 3000 companies (1.6% of total companies reporting vote results)
- The 168 companies that received greater than 30% opposition on their say on pay votes in 2011 will receive greater attention in 2012
- Shareholder proposals seeking board declassification averaged support of 73.5%, and won majority supports at 22 of 23 large-cap companies
- A significant decline in shareholder opposition to directors; as of June 30, only 43 directors at Russell 3000 companies failed to win majority support compared to 87 for the same time period in 2010