BlackRock updated its proxy voting guidelines, and some of the key highlights since its last update include:
Two women on boards. In its discussion of the importance of boards comprising a diverse selection of individuals bringing to bear a range of experiences and competing views and opinions, BlackRock emphasized that in addition to other elements of diversity, the investor would “normally expect to see at least two women directors on every board.”
Overboarding limits. BlackRock’s views that outside directors should only sit on four boards have long been more restrictive than the proxy advisors. Now BlackRock also indicates that CEOs should just serve on one other board besides their own (for a total of two boards).