Board Backlash

Shareholder activists have seen their influence rise over the last few years, buoyed by the increased attention of institutional investors on issues of corporate governance. But while a broader array of shareholders are willing to buck the company line and voice dissent, proponents of shareholder rights are encountering a disturbing trend: companies from blue chips to not-so-blue chips have been ignoring majority votes on a range of non-binding shareholder resolutions. Of course, non-binding proposals