{"id":56329,"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":"2025-10-01T10:40:11","modified_gmt":"2025-10-01T14:40:11","slug":"glass-lewis-announces-updated-approach-to-diversity-related-proxy-voting","status":"publish","type":"post","link":"https:\/\/allianceadvisors.com\/zh-hans\/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_68e473ecd9687{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_68e473ecd9687{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_68e473ecd9687\"><span class=\"vcex-heading-inner wpex-inline-block\">Glass Lewis Announces Updated Approach to Diversity-Related Proxy Voting<\/span><\/h2><style>.vcex-heading.vcex_68e473ecdbbd8{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_68e473ecdbbd8{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_68e473ecdbbd8\"><a href=\"https:\/\/allianceadvisors.com\/staff-member\/shirley-westcott\/\" class=\"wpex-no-underline wpex-inherit-color-important\" target=\"_self\"><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\/zh-hans\/compensation-advisory-case-study\/&amp;quot;&gt;Case Study: Previously, Failed Say on Pay Proposal Compensation Advisory, Shareholder Meeting Advisory&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\/zh-hans\/apac-power-generation-company\/&amp;quot;&gt;Case Study: EGM &amp;#8211; Shareholder Engagement&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\/zh-hans\/glossary-index\/proxy-advisor\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\"  data-link=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/proxy-advisor\/\"  href=\"https:\/\/allianceadvisors.com\/zh-hans\/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\/zh-hans\/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\/zh-hans\/compensation-advisory-case-study\/&amp;quot;&gt;Case Study: Previously, Failed Say on Pay Proposal Compensation Advisory, Shareholder Meeting Advisory&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\/zh-hans\/glossary-index\/proxy-voting\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\"  data-link=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/proxy-voting\/\"  href=\"https:\/\/allianceadvisors.com\/zh-hans\/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\/zh-hans\/%e8%81%94%e7%b3%bb%e6%96%b9%e5%bc%8f\/&amp;quot;&gt;&#32852;&#31995;&#26041;&#24335;&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\/zh-hans\/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\/zh-hans\/glossary-index\/institutional-shareholder\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\" data-link=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/institutional-shareholder\/\" href=\"https:\/\/allianceadvisors.com\/zh-hans\/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\" 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