Company Takes Public Swipe at Proxy Advisor Process
CNX Resources writes “…it is important for shareholders to understand our concern regarding Glass Lewis’ flawed process”
Earlier this evening, CNX 0.00%↑filed a DEFA14A detailing responses to adverse Glass Lewis recommendations vis-à-vis the company’s Nom Gov Chair and Say-on-Pay proposal. However, prior to the rebuttal, CNX CEO Nick DeIuliis took an unconventional approach by expressing his frustration and critique of the advisor, writing…
Glass Lewis uses a ’pay to play‘ approach where a company must purchase Glass Lewis’ proxy report to have the ability to directly address concerns through a Report Feedback Statement (“RFS”)
…and closing with:
Common sense dictates we go on record to respectfully disagree with Glass Lewis’ recommendations.
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