The CSR Newsletters are a freely-available resource generated as a dynamic complement to the textbook, Strategic Corporate Social Responsibility: Sustainable Value Creation.

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Friday, March 2, 2012

Strategic CSR - HP

The article in the url below contains some good news for corporate governance activists (Issues: Shareholder Activism, p180):

In a major victory for activists, Hewlett-Packard Co. agreed to a step that could give investors more power to oust its board members. The Palo Alto, Calif., technology giant will give its stockholders the chance to approve so-called proxy access through a bylaw vote at its 2013 annual meeting. If the measure passes, investors who own at least 3% of H-P shares for at least three years would be allowed to nominate up to 20% of the company's directors, the company said. The vote would be binding, meaning H-P would be bound by the results.

Or, at least, the news is a qualified good:

The 3% ownership bar is a high one, however, as only four H-P shareholders own that much of the technology company, according to filings.