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Proxy adviser ISS outlines view of CEO removals from boards
September 12, 2017 / 8:33 PM / 9 days ago

Proxy adviser ISS outlines view of CEO removals from boards

NEW YORK, Sept 12 (Reuters) - Institutional Shareholder Services, the influential proxy adviser, said it closely weighs the consequences of a top company leader’s being voted off the board by shareholders, and explained its view of activist investors targeting chief executive officers.

ISS released a paper on Tuesday in response to two major proxy fights - Procter & Gamble Co and Automatic Data Processing Inc - and the rising trend of activist shareholders directly attacking CEOs for removal from company boards.

Reporting by Michael Flaherty; Editing by Leslie Adler

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