Corporate Reformers Out in Full Swing | White & Case LLP International Law Firm, Global Law Practice
Corporate Reformers Out in Full Swing

Corporate Reformers Out in Full Swing

Harvard University Law School's Shareholder Rights Project is submitting proxy proposals to 74 companies, recommending that their directors be elected annually. All of the companies are members of the S&P and Fortune 500s.

Only 126 companies in the S&P 500 have classified boards, down from 302 in 2002, said Colin Diamond, an attorney in the New York office of White & Case.

"There has generally been significant support from shareholders to declassify," he said.

Diamond said proposals to curb political spending by public companies or require them to disclose more information about contributions also will be featured prominently in this spring's proxy season.