Beyond the Boardroom

Beyond the Boardroom is coming to an end and this is the last episode. Diligent will still be running The Corporate Director Podcast where you can still expect to hear the familiar voices from Diligent Market Intelligence sharing key findings from our special reports and research. 

All episodes will remain on your feed wherever you get your podcasts.

Kieran Poole and the team count down the top five wildest campaigns of the year so far as featured in our Proxy Season Review 2023. 

Who will take top spot? Who will get silver? Who will miss out on a podium place? Listen now and then enjoy a more comprehensive analysis in the report. 

As a special bonus episode, Kieran Poole is joined by Steve Balet of Strategic Governance Advisors and Diligent Market Intelligence's Jason Booth to look back at one of the most significant activist campaigns this century... Carl Icahn at Apple. 

Hear how Icahn began the trend of using Twitter as an activist tool, whether his tactics have changed since, and even why he turned his hand at stand-up comedy. 

Kieran Poole is joined by Olshan Frome Wolosky's Ryan Nebel and Elizabeth Gonzalez-Sussman, as well as Diligent Market Insight's Rebecca Sherratt to discuss our Proxy Season Review 2023.

Ryan and Elizabeth are vice-chairs of the law firm's shareholder activism group.

Among the top findings:

Activists refocus on financials: The number of capital structure, return cash to shareholder, and operational demands increased by 39.3%, 25.9%, and 17.4% globally, compared to a year prior, with activists keen to maximize investor returns amid depressed markets.

ESG suffers a crisis of confidence: Amid increasingly vocal anti-ESG sentiment, support for ESG proposals has been decidedly mixed. Globally, nine (2.4%) E&S shareholder proposals won majority support, compared to 36 (10.1%) in the first half of 2022.

Directors are subject to increased scrutiny: In the first half of 2023, shareholder support for global director elections has declined to 95.6%, compared to 96.4% and 96.1% throughout 2021 and 2022, respectively. 

Look out for our countdown of the wildest campaigns which will appear in your podcast feed soon. 

Simon Rawson of ShareAction joins Kieran Poole to discuss why the firm is urging major European banks to end the direct financing of new oil and gas fields by the end of 2023, being the first group to file a Living Wage resolution, and his time serving as a British diplomat. Plus, he tells us why we should all be watching Schitt's Creek.  

Jonathan Litt of Land & Buildings joins Kieran Poole to discuss the impact on real estate investing from the return to office trend, U.S. banks and their commercial real estate loans, and being the first activist to go all the way to a vote under the new universal proxy rules. Plus, he tells us why aboard a plane is the best place to watch a film. 

Make sure to get your free copy of our latest report, ESG 2023.

Kieran Poole is joined by Insightia's Rebecca Sherratt, Antoinette Giblin, and Will Arnot to review some of the most notable proxy fights to have drawn to a close in the past few weeks. 

Make sure to get your free copy of our latest report, ESG 2023.

Kieran Poole is joined by Jon Solorzano of Vinson & Elkins and Rodolfo Araujo of EY as well as Insightia's Rebecca Sherratt to discuss our latest report, ESG 2023. 

Jon advises companies and their boards on ESG issues, sustainability, activism, risk management, securities law, and M&A. Whereas, at EY, Rodolfo leads the ESG strategy and investor engagement efforts. 

Among the top findings: 

Scope 3 reporting goes global: Emissions-intensive sectors face sustained pressure to enhance their net-zero commitments, with climate change shareholder proposals winning 32.4% and 36.7% average support in the U.S. energy and aerospace/defense sectors, respectively, in the first five months of 2023. 

Pressure mounts on issuers to enhance ESG disclosure: Although average support for E&S shareholder proposals appeared to fall over the last two years, the number that passed remains elevated and more ESG requests are being withdrawn for agreements. 26 E&S proposals won majority support at S&P 500 companies in 2022, compared to 17 and 30 in 2020 and 2021, respectively. 

ESG activism out of favor with hedge funds: Rising inflation has placed ESG activism on the backburner for traditional activist hedge funds. 27 activist campaigns launched by primary- or partial-focus activists have featured environmental and/or social demands in the first five months of 2023, compared to 43 in the same period a year prior. 

Join the conversation about the report using the hashtag #InsightiaESG on Twitter and LinkedIn.

Mathew Saur of the law firm Woolery & Co joins Kieran Poole to discuss how rising interest rates and market volatility could lead to M&A and capital allocation activism seeing a significant shake-up in 2023. 

Make sure to get your free copy of our latest report, Corporate Governance in Europe 2023.

Kieran Poole is joined by Insightia's Rebecca Sherratt, Antoinette Giblin, and Miles Rogerson to pick the most important stories of the month that you need to know about. 

On the agenda are Hindenburg Research versus Icahn Enterprises, Shake Shack's vulnerability to activism, and executive pay in Europe. 

Make sure to also subscribe to Diligent's The Corporate Director Podcast.