Power Corporation of Canada
Ticker: POW
Meeting date: 09/05/2024
Meeting type: Annual
| Proposal | Mgt rec | Vote | |
|---|---|---|---|
| Management proposals | |||
| 1.1 | Proposal Elect Director Pierre Beaudoin | Mgt rec For | Vote For |
| 1.2 | Proposal Elect Director Marcel R. Coutu | Mgt rec For | Vote For |
| 1.3 | Proposal Elect Director Andre Desmarais | Mgt rec For | Vote For |
| 1.4 | Proposal Elect Director Paul Desmarais, Jr. Vote rationale: Board members should devote sufficient time to fulfil their responsibilities effectively. The chairperson is responsible for leading all aspects of the board’s work and should devote a significant amount of time to fulfil his or her responsibilities effectively. Board members should contribute to effective discussions and decision-making by attending all meetings. Global Voting Guidelines Time commitment of board members | Mgt rec For | Vote Against |
| 1.5 | Proposal Elect Director Gary A. Doer | Mgt rec For | Vote For |
| 1.6 | Proposal Elect Director Segolene Gallienne-Frere | Mgt rec For | Vote For |
| 1.7 | Proposal Elect Director Anthony R. Graham | Mgt rec For | Vote For |
| 1.8 | Proposal Elect Director Sharon MacLeod | Mgt rec For | Vote For |
| 1.9 | Proposal Elect Director Paula B. Madoff | Mgt rec For | Vote For |
| 1.10 | Proposal Elect Director Isabelle Marcoux | Mgt rec For | Vote For |
| 1.11 | Proposal Elect Director R. Jeffrey Orr | Mgt rec For | Vote For |
| 1.12 | Proposal Elect Director T. Timothy Ryan, Jr. | Mgt rec For | Vote For |
| 1.13 | Proposal Elect Director Siim A. Vanaselja | Mgt rec For | Vote For |
| 1.14 | Proposal Elect Director Elizabeth D. Wilson | Mgt rec For | Vote For |
| 2 | Proposal Ratify Deloitte LLP as Auditors | Mgt rec For | Vote For |
| 3 | Proposal Advisory Vote on Executive Compensation Approach | Mgt rec For | Vote For |
| Shareholder proposals | |||
| 4 | Proposal SP 1: Disclose the Corporation's Scope 1-3 Financed Emissions Annually | Mgt rec Against | Vote Against |
| 5 | Proposal SP 2: Approve Incentive Compensation for All Employees Based on ESG Targets | Mgt rec Against | Vote Against |
| 6 | Proposal SP 3: Hold Annual Meetings of the Company in Person with Virtual Meetings as Complements | Mgt rec Against | Vote Against |
| 7 | Proposal SP 4: Disclose Language Fluency of Executives | Mgt rec Against | Vote Against |
| 8 | Proposal SP 5: Advisory Vote on Environmental Policies | Mgt rec Against | Vote Against |
Disclaimer
This page contains certain information as to the voting intentions of Norges Bank in its role as manager of the Government Pension Fund Global. This disclosure is provided to promote transparency as to Norges Bank’s engagement with investee companies, and in view of its approach to responsible investing. Norges Bank’s voting intention is an internal decision and has not been agreed with any third party. Please note the following:
- This disclosure is provided for information purposes only. It does not constitute advice and should not be taken as a recommendation or an instruction on any matter, including whether any relevant third party should buy, sell or retain shares, or how any third party should exercise any voting rights they may have. Any person who wishes to obtain advice should seek this from a professional adviser. This disclosure is not a proxy solicitation and is not intended to influence the vote of other shareholders.
- No reliance should be placed on this information or its accuracy, and Norges Bank accepts no responsibility or liability for any action taken or not taken on the basis of this information. Any relevant third party should form their own views based on their own analysis of the relevant facts and circumstances.
- To be clear, Norges Bank has no duty of care in respect of any third party who decides to view this disclosure, which shall be done entirely at their own risk.
- Any information in this disclosure is subject to change without notice. In particular, be aware that Norges Bank’s intentions and the holdings of the Government Pension Fund Global may change over time and, to the extent permitted by applicable law, Norges Bank disclaims any responsibility to update this information as a result of such changes or for any other reason.
- Securities lending or other activity may mean that the votes cast by Norges Bank are significantly different than its economic or published holding of shares, or significantly different from its holding at the date of this disclosure. No assumption should be made or reliance placed on the number of votes that will be cast.
- Norges Bank is not subject to any prohibition on securities lending, trading or other activity as a result of this disclosure at any point prior to or after the publication of this disclosure.