Post by
enjoytheride on Jun 01, 2023 2:20pm
Management Spin
My experience is that ISS recommendations are usually a recommendation to vote for or against a certain proposal. That is the choice faced by a shareholder. Existing management doesn't tell us what that recommendation ISS is. We just Management"s spin which is:
In recommending shareholders reject Pelham’s attempt at wholesale Board change....
I suspect that ISS said that they didn't have all the facts but one should exercise caution in replacing everyone involved due to institutional knowledge etc. If ISS had recommended voting for the existing board we can be assured we would be reading that instead of the cherry picked misleading quotes management put out.
The Yellow Pelham proxy doesn't recommend WHOLESALE change. It allows shareholders to pick and choose the directors they want. It is managements Blue proxy that is one sided.