The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Mon, 20 Apr 2026 11:32:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Glass Lewis To End Benchmark Proxy Voting Policy: What Companies Should Know – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Glass Lewis To End Benchmark Proxy Voting Policy: What Companies Should Know https://corpgov.law.harvard.edu/2025/10/29/glass-lewis-to-end-benchmark-proxy-voting-policy-what-companies-should-know/?utm_source=rss&utm_medium=rss&utm_campaign=glass-lewis-to-end-benchmark-proxy-voting-policy-what-companies-should-know https://corpgov.law.harvard.edu/2025/10/29/glass-lewis-to-end-benchmark-proxy-voting-policy-what-companies-should-know/#respond Wed, 29 Oct 2025 11:30:39 +0000 https://corpgov.law.harvard.edu/?p=177378?d=20251028163554EDT Posted by Raquel Fox, Marc S. Gerber, and Elizabeth R. Gonzalez-Sussman, Skadden, Arps, Slate, Meagher & Flom LLP, on Wednesday, October 29, 2025
Editor's Note:

Raquel Fox, Marc S. Gerber, and Elizabeth R. Gonzalez-Sussman are Partners at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on a Skadden memorandum by Ms. Fox, Mr. Gerber, Ms. Gonzalez-Sussman, Brian V. Breheny, Ron S. Berenblat, and Roy Cohen.

Executive Summary

  • What’s new: Glass Lewis announced it will stop offering its standard benchmark proxy voting guidelines in 2027, transitioning clients to differentiated, client-specific voting frameworks reflecting individual investment philosophies and stewardship priorities.
  • Why it matters: As the proxy voting landscape becomes increasingly fragmented, companies may face greater uncertainty around voting outcomes in key shareholder votes, including contested board elections.
  • What to do next: Public companies should consider (i) monitoring proxy advisor developments, (ii) mapping shareholder voting approaches and proactively engaging, (iii) preparing their boards and (iv) reassessing activism vulnerability with counsel.

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