More than half of the directors in PwC’s 2015 Annual Corporate Director’s Survey believe proxy access is appropriate for shareholders owning at least 5% of a company’s shares for at least five years or more. 27% believe proxy access never makes sense. However, proxy access is the most widely discussed governance initiative in boardrooms over the past year. The PwC report explains the responses of 783 public company directors. 74% of those directors serve on the boards of companies with more than $1 billion in annual revenue.
The top three director concerns are increasing demands on the audit committee, potential new cybersecurity regulations and activism.