Characterized to Fail? Examining the Role of Board Demographics in Say on Pay Outcomes


Proxy season 2021 was quite a year for failed management Say on Pay votes, so ISS Corporate Solutions (ICS) decided to examine a number of measures for board demographics to see: Did boards which performed poorly on Say on Pay votes have any particular characteristics?

Our experts found that companies with lower Say on Pay votes have whiter, more male, shorter tenured, and slightly older directors than companies with higher votes, according to an analysis of voting data for the last four years. For more details on the findings, download the whitepaper below.

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