Egan-Jones Recommends Canadian National Railway Shareholders Withhold from Non-diverse Directors — Egan-Jones Proxy Services
PHILADELPHIA – April 3, 2018 – PRLog — Haverford, PA – Egan Jones Proxy Services (EJP) released a report recommending Canadian National Railway Company [CNI] shareholders “withhold” from the following non-diverse directors with more than 10 years of tenure on the Board: Ambassador Gordon D. Giffin, The Honorable Denis Losier, and Robert Pace. Each of these Director nominees was also a member of a key Board committee.
According to Egan-Jones’ Proxy Guidelines a director whose tenure on the Board is 10 years or more is considered affiliated, with the exception of diverse nominees.
We believe that key Board committees namely Audit, Compensation and Nominating committees should be comprised solely of Independent outside directors for sound corporate governance practice.
Diversity and adequate Director turnover are basic tenants of good corporate governance that investors demand in today’s world. We recommend Boards plan for and deliver these requirements.
Additionally, the company earned a Cybersecurity Rating of “neutral” from EJP.
For questions on this or any other EJP reports please contact Kevin McManus, Vice President and Director of Proxy Services, using the contact details below.
Contact:
Kevin McManus
Vice President and Director of Proxy Services
Egan-Jones Proxy Services
61 Station Road
Haverford, PA 19041
+1-703-982-1083
kmcmanus@egan-
www.ejproxy.com
Egan-Jones Proxy Services (“EJP”) is a leading provider of independent proxy research, voting recommendations and voting services to a variety of institutional investors. EJP assists institutional fiduciaries in determining voting directions as well as assisting in the administrative submission of proxy voting, and provides research, recommendations, voting, and voting record retention services on various shareholder proxy voting matters. EJP was established in 2002 by the Egan-Jones Ratings Co., Inc. (“EJR”), a nationally recognized statistical rating organization (“NRSRO”) as designated by the U.S. Securities and Exchange Commission. EJR provides credit rating services for primarily institutional clients. EJP is a related division of EJR, and is not a subsidiary or stand-alone corporate entity. EJP and EJR have physical and electronic safeguards in place to prevent conflicts of interest and the sharing of client data.
