One of our advocates, Trillium Asset Management, saw their proposal at Chevron get a remarkable 27% of the vote. The proposal asks for board members with environmental expertise to be considered for any upcoming vacancies on the board of directors. The strong showing was summarized by Trillium’s VP Shelley Alpern who said “The high level of investors support for this resolution is indicative of rising frustration with Chevron’s environmental performance, domestically and internationally.”
The annual meeting was also interesting because many shareholders were denied access to it for unapparent reasons. Four were even arrested for protesting their denial. In response, Ms. Alpern told the Chevron board “I attend several shareholder meetings every year and I have never seen a company deny entry to legal proxy holders. This is outrageous and reflects very poorly on our company’s respect for the laws that govern our proxy process in the United States.” (See full article.)
Moxy Vote wants to recognize Trillium Asset Management, Shelley Alpern and all those shareholders who stayed vigilant.
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