{"id":56332,"date":"2025-03-05T01:13:47","date_gmt":"2025-03-05T06:13:47","guid":{"rendered":"https:\/\/allianceadvisors.com\/glass-lewis-announces-updated-approach-to-diversity-related-proxy-voting\/"},"modified":"2025-10-01T10:40:13","modified_gmt":"2025-10-01T14:40:13","slug":"glass-lewis-announces-updated-approach-to-diversity-related-proxy-voting","status":"publish","type":"post","link":"https:\/\/allianceadvisors.com\/ko\/glass-lewis-announces-updated-approach-to-diversity-related-proxy-voting\/","title":{"rendered":"Glass Lewis Announces Updated Approach to Diversity-Related Proxy Voting"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row css_animation=&rdquo;fadeIn&rdquo; content_placement=&rdquo;bottom&rdquo; column_spacing=&rdquo;0px&rdquo; wpex_bg_image_source=&rdquo;featured&rdquo; css=&rdquo;.vc_custom_1740765101116{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&rdquo; min_height=&rdquo;450px&rdquo;][vc_column wpex_bg_image_source=&rdquo;featured&rdquo; css=&rdquo;.vc_custom_1738695614909{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&rdquo; wpex_bg_position=&rdquo;center center&rdquo;]<div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:300px;\"><\/div><style>.vcex-heading.vcex_6a3b8f788c02e{width:600px;color:var(--wpex-accent);font-size:var(--wpex-text-6xl);font-weight:600;line-height:var(--wpex-leading-tight);}@media (max-width:479px){.vcex-heading.vcex_6a3b8f788c02e{font-size:30px;}}<\/style><h2 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-max-w-100 wpex-mr-auto vc_custom_1751645833669 vcex_6a3b8f788c02e\"><span class=\"vcex-heading-inner wpex-inline-block\">Glass Lewis Announces Updated Approach to Diversity-Related Proxy Voting<\/span><\/h2><style>.vcex-heading.vcex_6a3b8f788cef4{width:600px;color:var(--wpex-accent);font-size:var(--wpex-text-lg);font-weight:600;line-height:var(--wpex-leading-tight);}@media (max-width:479px){.vcex-heading.vcex_6a3b8f788cef4{font-size:16px;}}<\/style><h3 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-max-w-100 wpex-mr-auto vc_custom_1740761328938 vcex_6a3b8f788cef4\"><a href=\"https:\/\/allianceadvisors.com\/staff-member\/shirley-westcott\/\" class=\"wpex-no-underline wpex-inherit-color-important\"><span class=\"vcex-heading-inner wpex-inline-block\"><span class=\"vcex-heading-icon vcex-heading-icon-left vcex-icon-wrap wpex-mr-5\">By<\/span>Shirley Westcott<\/span><\/a><\/h3><div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:50px;\"><\/div>[\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:30px;\"><\/div>[\/vc_column][\/vc_row]On March 4, <a class=\"glossaryLink cmtt_Proxy Solicitation\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Proxy Advisor&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; Firms like ISS and Glass Lewis that provide institutional investors with research, analysis,...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/the-importance-of-pre-agm-shareholder-engagement-cornerstone-practices-for-greater-china-2023\/&amp;quot;&gt;The Importance of Pre-AGM Shareholder Engagement Cornerstone Practices for Greater China 2023&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/2023-proxy-season-preview\/&amp;quot;&gt;2023 Proxy Season Preview&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.com\/ko\/glossary-index\/proxy-advisor\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\"  data-link=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/proxy-advisor\/\"  href=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/proxy-advisor\/\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>proxy advisor<\/a> Glass Lewis announced that was implementing a new bifurcated approach to its <a class=\"glossaryLink cmtt_Proxy Solicitation\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Proxy Voting&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; The process by which shareholders cast their votes on corporate matters by proxy, rather than...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/privacy-policy\/&amp;quot;&gt;Privacy Policy&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/the-importance-of-pre-agm-shareholder-engagement-cornerstone-practices-for-greater-china-2023\/&amp;quot;&gt;The Importance of Pre-AGM Shareholder Engagement Cornerstone Practices for Greater China 2023&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.com\/ko\/glossary-index\/proxy-voting\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\"  data-link=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/proxy-voting\/\"  href=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/proxy-voting\/\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>proxy voting<\/a> advice on diversity-related voting matters at U.S. public companies. It had advised clients on Feb. 18 that it was reevaluating its policies in view of the Trump administration&rsquo;s January executive orders banning illegal diversity, equity and inclusion (DEI) policies in the federal government and the Attorney General&rsquo;s directive to the Department of Justice to investigate, eliminate and penalize private companies that have illegal discrimination and preferences, including DEI.\n<p>Glass Lewis will continue to apply its 2025 U.S. benchmark and thematic guidelines on board elections and DEI-related shareholder proposals as is.&sup1; However, beginning March 10, where it recommends against directors for any diversity-related reasons, its proxy papers will carry a &ldquo;For You Attention&rdquo; (FYA) flag pointing clients to a supporting rationale that they can leverage if their preference is to vote differently from Glass Lewis&rsquo;s recommendation.<\/p>\n<p>Glass Lewis&rsquo;s U.S. benchmark policy on board diversity is as follows:<\/p>\n<ul>\n<li>For Russell 3000 firms, it generally recommends against the nominating committee chair if the board is not at least 30% gender diverse and against the full nominating committee if there are no gender diverse directors.<\/li>\n<li>For non-Russell 3000 firms, it generally recommends against the nominating committee chair if there are no gender diverse directors.<\/li>\n<li>For Russell 1000 companies, it generally recommends against the nominating committee chair if the board has no directors from an underrepresented community. It will additionally oppose the nominating\/ governance committee chair if there is no disclosure of individual or aggregate racial\/ethnic minority board demographic information.<\/li>\n<\/ul>\n<p>Glass Lewis believes its updated approach will allow it to support the varied diversity-related voting preferences of its institutional clients without the disruption that a hard policy change would pose in the middle of proxy season. The announcement follows <a class=\"glossaryLink cmtt_Institutional Shareholder Engagement cmtt_Institutional Shareholder\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Institutional Shareholder&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; Institutional Shareholder is a large investor that owns significant amounts of stock in...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/the-importance-of-pre-agm-shareholder-engagement-cornerstone-practices-for-greater-china-2023\/&amp;quot;&gt;The Importance of Pre-AGM Shareholder Engagement Cornerstone Practices for Greater China 2023&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/2023-proxy-season-preview\/&amp;quot;&gt;2023 Proxy Season Preview&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.com\/ko\/glossary-index\/institutional-shareholder\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\" data-link=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/institutional-shareholder\/\" href=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/institutional-shareholder\/\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Institutional Shareholder<\/a> Services&rsquo; (ISS) decision to suspend its consideration of gender and racial\/ethnic diversity factors in its voting recommendations on director elections beginning with its reports issued on or after Feb. 25.[\/vc_column_text][\/vc_column][\/vc_row]&sup1;&nbsp;See Glass Lewis&rsquo;s 2025 U.S. benchmark policies at <a href=\"https:\/\/resources.glasslewis.com\/hubfs\/2025%20Guidelines\/2025%20US%20Benchmark%20Policy%20Guidelines.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/resources.glasslewis.com\/hubfs\/2025%20Guidelines\/2025%20US%20Benchmark%20Policy%20Guidelines.pdf<\/a> and <a href=\"https:\/\/resources.glasslewis.com\/hubfs\/2025%20Guidelines\/2025%20Shareholder%20Proposals%20&amp;%20ESG%20Benchmark%20Policy%20Guidelines.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/resources.glasslewis.com\/hubfs\/2025%20Guidelines\/2025%20Shareholder%20Proposals%20&amp;%20ESG%20Benchmark%20Policy%20Guidelines.pdf<\/a>.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column]<\/p><div class=\"vcex-shortcode wpex-clr\"><div class=\"wpex-template-shortcode\"><style type=\"text\/css\" data-type=\"vc_shortcodes-custom-css\">.vc_custom_1747221138647{background-position: center 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It had advised clients on Feb. 18 that it was reevaluating its policies in view of the&hellip;","protected":false},"author":15,"featured_media":56326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[236],"tags":[],"post_series":[],"ppma_author":[463],"class_list":["post-56332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-whitepapers-ko","entry","has-media"],"authors":[{"term_id":463,"user_id":15,"is_guest":0,"slug":"shirley","display_name":"Shirley Westcott","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/791f096a465d2b60d28c5dbbeae347131fa69393350b87e61a282f5b71333b61?s=96&d=mm&r=g","author_category":"1","first_name":"Shirley","last_name":"Westcott","user_url":"","job_title":"Senior Vice President","description":"Shirley is Senior Vice President in the Proxy Solicitation Group at Alliance Advisors since 2011 where she advises public companies on their corporate governance practices and issues of concern to shareholders."}],"_links":{"self":[{"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/posts\/56332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/comments?post=56332"}],"version-history":[{"count":5,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/posts\/56332\/revisions"}],"predecessor-version":[{"id":59265,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/posts\/56332\/revisions\/59265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/media\/56326"}],"wp:attachment":[{"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/media?parent=56332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/categories?post=56332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/tags?post=56332"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/post_series?post=56332"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/ppma_author?post=56332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}