Canadian markets are moving on Say on Pay, and governments may be catching up

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Shareholders at Imperial Oil Limited and Linamar Corporation will be asked to vote on adopting an annual advisory “Say on Pay” vote on executive compensation at this year’s annual general meetings. According to a new report from SHARE, more than 71% of companies in the TSX Composite Index have now adopted “Say on Pay” votes and 52 of the TSX60 Index companies have adopted the practice. An amendment to the Canada Business Corporations Act (CBCA) proposed in the federal government’s new budget implementation bill, introduced April 8th, would require corporations incorporated under the CBCA to provide an annual Say on Pay vote.

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Proxy Alert: Human Rights Due Diligence and Human Capital Management at Magna International Inc.

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Shareholders request that the Magna Internation Inc. Board of Directors expand its annual disclosure to shareholders, at reasonable cost and omitting proprietary information, to include key performance indicators (KPIs) on human capital management and human rights due diligence related to the company’s global manufacturing sites and its global supply chain.

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