Bluebell votes against 6 directors including Chairman/CEO Larry Fink, director and co-founder Susan Wagner, Lead Independent Director Murry Gerber
BlackRock Inc (NYSE:ISIN US09247X1019)
— Giuseppe Bivona, Bluebell Capital Partners Co-CIO
LONDON, NONE, UNITED KINGDOM, May 10, 2024 /EINPresswire.com/ — At the upcoming BlackRock AGM on May 15th, 2024, Bluebell Capital Partners (“Bluebell”) supports BlackRock on 11 out of 19 Management proposals, and 2 out of 3 Shareholders Proposals.
Bluebell is voting against 6 directors including Chairman/CEO Larry Fink, director and co-founder Susan Wagner and Lead Independent Director Murry Gerber. Bluebell Capital Partners also opposes the remuneration of named executive officers and the renewal of auditors.
BLUEBELL VOTED AS FOLLOWS:
Management Proposals: AGAINST 8 out of 19
Item 1a: Election of Director Pamela Day: FOR
Item 1b: Election of Director Laurence D Fink: AGAINST
**Rationale: should relinquish the role of Chairman in favour of an independent Chairman**
Item 1c: Election of Director William E. Ford: FOR
Item 1d: Election of Director Fabrizio Freda: AGAINST
**Rationale: too long tenure to be considered independent**
Item 1e: Election of Director Murry S. Gerber: AGAINST
**Rationale: too long tenure to be considered independent, not appropriate as Lead Independent Director**
Item 1f: Election of Director Margaret “Peggy” L. Johnson: FOR
Item 1g: Election of Director Robert S. Kapito: FOR
Item 1h: Election of Director Cheryl D. Mills: FOR
Item 1i: Election of Director Amin H. Nasser: AGAINST
**Rationale: Inconsistent with BlackRock stated ESG policies**
Item 1j: Election of Director Gordon M. Nixon: FOR
Item 1k: Election of Director Kristin C. Peck: FOR
Item 1l: Election of Director Charles H. Robbins: FOR
Item 1m: Election of Director Marco Antonio Slim Domit: AGAINST
**Rationale: too long tenure to be considered independent**
Item 1n: Election of Director Hans E. Vestberg: FOR
Item 1o: Election of Director Susan L. Wagner: AGAINST
**Rationale: Too long tenure to be considered independent – not appropriate as chair of the Risk Committee**
Item 1p: Election of Director Mark Wilson: FOR
Item 2: Approval, in a non-binding advisory vote, of the compensation for named executive officers: AGAINST
**Rationale: Potential for excessive compensation, especially with regards to cash compensation which seems almost discretionary**
Item 3: Approval of the BlackRock, Inc. Third Amended and Restated 1999 Stock Award and Incentive Plan: FOR
Item 4: Ratification of the appointment of Deloitte LLP as BlackRock’s independent registered public accounting firm for the fiscal year 2024: AGAINST
**Rationale: After 22 years on role, a change of auditor would be welcome**
Shareholder Proposals: AGAINST 1 out of 3
Item 5: Report on EEO Policy Risk: AGAINST
**Rationale: Against shareholders interest**
Item 6: Amend Bylaws to Require Independent Board Chair: FOR
**Rationale: A first step to improve a structurally weak governance, without disrupting the business**
Item 7: Report on Proxy Voting Record and Policies for Climate Change-Related Proposals: FOR
**Rationale: A welcome proposal that will pressure BIS to upgrade its standard of voting and force consistency between what BlackRock states and what BlackRock implements**
Matt Low
Bluebell Capital Partners Limited
+44 20 3826 0104
email us here
Originally published at https://www.einpresswire.com/article/710505839/bluebell-capital-partners-disclosed-its-votes-for-blackrock-15-may-2024-agm-including-item-6-vote-for
