Holding virtual annual general meetings for shareholders means embracing efficiency, equity, and inclusion in shareholder democracy
Ian Robertson is the chief executive officer of strategic shareholder advisory and governance firm Kingsdale Advisors.
A physical meeting introduces a crowd dynamic that allows for a hijacking of shareholder democracy, not an enhancement. With the majority of shareholders already giving the board a clear mandate in advance, why do we allow those who hold less than 0.01 per cent of stock to own the day? That is not shareholder democracy at work. In a democracy, the will of the majority prevails, not those with the shrillest voices.
If a board unduly restricts constructive participation in this forum, then they should absolutely be held accountable by shareholders who should vote them out at the next opportunity. It is also curious that many of those pushing to maintain in-person meetings are also pushing companies to go green. Why then are we making shareholders burn fossil fuels to travel and cutting down trees to print materials when an internet connection can achieve the same result?
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