310:, a Canadian company. In advance of the May 7th, 2019 vote, Glass, Lewis & Co sided with the slate of nominees which included Kevin Cameron, a co-founder and past senior executive at Glass, Lewis & Co itself. This precedent could encourage future activist shareholders to include past proxy advisor senior executives in their nominee slates to unfairly obtain favorable recommendations. Additionally, Cameron did not disclose in any of his publicly released biographies at the time the fact that he was on the board of directors of two separate public companies as they filed for bankruptcy (ECOTality - ticker:ECTY and Reddy Ice - ticker:FRZ). This raised concerns about neutrality and disclosure which are particularly significant given the company's outsize impact on the broader corporate sphere and access to extensive sensitive information where neutrality is difficult to confirm and tempting to discard.
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266:. The primary services provided by Glass Lewis are research and recommendations for shareholder votes by institutional investors, including a digital platform for managing these votes and reporting. A large fraction of those investors follow the recommendations of Glass Lewis in lockstep, giving it outsize importance and impact on governance across the corporate sphere.
298:, and the Alberta Investment Management Corp. In March 2021, Peloton Capital Management, a private equity firm, and Stephen Smith, a financial services entrepreneur, acquired Glass Lewis from Ontario Teachers' Pension Plan and the Alberta Investment Management Corp.
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Active
Ownership Engagement Solution; Controversy Alerts; Equity Compensation Plan Advisory; Proxy voting policies; M&A and other financial transaction research; regulatory reporting; class-action settlements; share recall
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services company. As of spring 2019, Glass Lewis controlled 28% of the proxy advisory market for mutual funds; this makes it the second-largest company in the market behind
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Shu, Chong, The Proxy
Advisory Industry: Influencing and Being Influenced (January 10, 2022). USC Marshall School of Business Research Paper, Available at SSRN:
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In June 2015, Glass Lewis acquired IVOX GmbH, Germany's leading independent provider of proxy advisory and governance services for institutional investors.
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In April–May 2019, Glass, Lewis & Co controversially did not recuse itself from issuing voting recommendations in a proxy contest at
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Glass Lewis has stated that it will use its shareholder proxy to vote against boards of directors that are not adequately diverse.
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Glass Lewis Europe Ltd, IVOX Glass Lewis, CGI Glass Lewis, Glass Lewis
Corporate (affiliate)
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429:"Proxy Advisors And Market Power: A Review of Institutional Investor Robovoting"
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Proxy Vote
Management Software, Proxy Paper Research Reports, Governance Hub,
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389:"The Competitive Landscape of the Proxy Advice Market | CLS Blue Sky Blog"
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590:"How big money can drive diversity in venture capital – TechCrunch"
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The
Harvard Law School Forum on Corporate Governance
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544:"Knight Therapeutics April 27, 2019 Press Release"
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269:Founded in 2003, Glass Lewis is headquartered in
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494:"News Archiv - IVOX - Internet Voting Execution"
294:Until March 2021, Glass Lewis was owned by the
209:Peloton Capital Management and Stephen Smith
302:Knight Therapeutics Board Slate Controversy
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572:"Glass Lewis 2018 Proxy Paper Guidelines"
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73:Learn how and when to remove this message
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599:30 March
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