CALGARY — A second institutional investor proxy advisory firm is wading into the fight by a dissident shareholder to elect a slate of four directors to the 10-member board at Crescent Point Energy Corp.<\/p>\n
Unlike Institutional Shareholder Services Inc., however, Glass Lewis & Co. is recommending that shareholders vote for all of Crescent Point’s director nominees and none of those put forward by Cation Capital Inc.<\/p>\n
Glass Lewis says shareholders should also vote in favour of the oil and gas producer’s approach to executive compensation, one of the issues identified by Cation, even though it gives a “D” grade in its report for pay for performance and says the top five executives earn more than the average on a list of their peers.<\/p>\n
ISS last week suggested shareholders should vote for two of Cation’s four nominees at the company’s annual meeting May 4 because there is a “reasonably compelling case” for board change to improve capital spending decisions, enhance profitability and bring executive compensation in line.<\/p>\n
Crescent Point endorses the Glass Lewis report, pointing out in a news release it supports the current board’s efforts to address shareholder concerns and finds Cation’s plan “decidedly vague and bereft of any meaningful substance.”<\/p>\n
In response, Cation says the Glass Lewis recommendation is “entirely flawed,” charging that the advisory firm didn’t fairly consult with Cation about its plan for Crescent Point.<\/p>\n","protected":false},"excerpt":{"rendered":"
CALGARY — A second institutional investor proxy advisory firm is wading into the fight by a dissident shareholder to elect a slate of four directors to the 10-member board at Crescent Point Energy Corp. Unlike Institutional Shareholder Services Inc., however, Glass Lewis & Co. is recommending that shareholders vote for all of Crescent Point’s director […]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6983"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=6983"}],"version-history":[{"count":1,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6983\/revisions"}],"predecessor-version":[{"id":6985,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6983\/revisions\/6985"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=6983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=6983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=6983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}