Liontrust Responsible Capitalism Report 2024 - Flipbook - Page 117
GLOBAL FUNDAMENTAL (UK)
Company
Mears Group Plc
Meeting Type
Annual
Date of vote
23/06/2023
Why vote is considered
significant
Vote against Board member when
ISS’ benchmark voting policy
recommended a vote in favour.
Proposal summary
Re-elect Chris Loughlin as
Director
Vote instruction:
AGAINST
ISS/Custom Policy
Recommendation
FOR
Voting rationale: As part of the GFT’s engagement with Mears
Group, the team feels the director has not shown himself to be a
particularly engaged board member. The team was concerned that
this seemed unlikely to change should the director be appointed
Chair. The team hold the company’s executive management in high
regard but also believe Mears could benefit from a broader set of
skills at board level, ideally being led by someone with more recent
commercial executive level roles, instead of by a director whose
primary experience is in the regulated water sector.
GLOBAL FUNDAMENTAL (GLOBAL)
Company
Vertiv Holdings Co.
Meeting Type
Annual
Date of vote
14/06/2023
Why vote is considered
significant
This vote was withheld
Proposal summary
Elect Director Joseph van
Dokkum
Vote instruction:
Withhold
ISS/Custom Policy
Recommendation
Withhold
Voting rationale: In line with the recommendations of proxy advisor,
ISS, the Global Fundamental team cast a withhold vote for the
election of Governance Committee Chair Joseph van Dokkum. This
was due to the board’s failure to remove, or subject to a sunset
requirement, the supermajority vote requirement to enact certain
changes to the governing documents which adversely impacts
shareholder rights.
Responsible Capitalism Report 2023 - 117