Proxy Vote Update: General Electric Company (GE)

Below are the resources for and the results of our recent Proxy Vote on behalf of our clients:
Proxy Materials:

rF Voting results:

  1. Vote for the election of of the following nominees:
    1. W Geoffrey Beattie – For
    2. John J Brennan – Against (Lack of oversight on approving/proposing compensation package).
    3. James I Cash Jr – Against (Lack of oversight on approving/proposing compensation package).
    4. Francisco D’Souza – For
    5. Marijin E Dekkers – Against (Lack of oversight on approving/proposing compensation package).
    6. Susan J Hockfield – For
    7. Jeffrey R Immelt – Against (Conflict of Interest).
    8. Andrea Jung – Against (Lack of oversight on approving/proposing compensation package).
    9. Robert W Lane – Against (Lack of oversight on approving/proposing compensation package).
    10. Rochelle B Lazarus – For
    11. James J Mulva – For
    12. James E Rohr – For
    13. Mary L Schapiro – For
    14. Robert J Swieringa – For
    15. James S Tisch – For
    16. Douglas A Warner III – Against (Lack of oversight on approving/proposing compensation package).
  2. Advisory approval of executive compensation:  Against (Awards are enormously excessive).
    1. Compensation was ~$36,000,000 to $10,000,000 for executive officers. Again, this is enormous overcompensation, which is an embarrassment to our country and corporate governance in general.  We voted against any board member that was on the compensation committee because this was almost equivalent to grand theft.
  3. Ratification of KPMG as independent auditor for 2015 – For
  4. Cumulative voting – For
  5. Written consent – For
  6. One director from ranks of retirees – Against
  7. Holy land principles – Against
  8. Limit equity vesting upon change in control – For

Post by Phil Ratcliff

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