Date: February 18, 2015
Issue: Proxy Advisory Firms
To: The Honorable Mary Jo White, Chair, SEC
Filing Type: Regulatory
Description: The CCMC is concerned that a universal ballot is a vehicle to fix the unbroken.
Consequently, the universal ballot will divorce corporate governance from the fiduciary duties integral to the long-term performance of a public company and its ability to provide a return to investors. Director elections will turn into annual political-style campaigns and create dynamics that are not conducive to the effective management of a public company.