The so-called fifth analyst call makes its debut today, when Occidental Petroleum and F&C Asset Management will co-host a call where investors can ask independent directors any questions they have about the proxy statement in advance of the annual meeting.
There has been plenty of debate about the fifth analyst call, with a number of IROs at the IR Magazine West Coast Think Tank pouring scorn on the idea. On the other hand, some investors argue shareholders need a forum to communicate directly with the directors who are supposed to represent them.
‘The current process means we can’t ask those questions directly to the remuneration committee unless we are voting on the spot at the meeting,’ Alexis Krajeski, associate director of governance and sustainable investment at F&C Investments, told IR magazine for an article earlier this month. ‘Requesting a fifth analyst call in advance of the AGM lets us better understand the remuneration structure and cast more informed votes.’
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