Information for Discovery Communications Shareholders Regarding Our Board Diversity Proposal
May 13, 2016: Trillium Asset Management has published a letter to shareholders of Discovery Communications (NASDAQ:DISCA) urging them to vote in favor of our Board Diversity proposal.
The proposal is co-led by Calvert Investments, Mercy Investment Services and Trillium Asset Management, and appears as item #3 on the company’s 2016 proxy card*. Shareholders will vote on the proposal at the Discovery Communications annual meeting, which takes place on May 19, 2016.
Numerous studies have underscored the nexus between greater board diversity, and improved corporate governance and financial performance, yet no women currently serve on Discovery Communication’s board.
Shareholders are requesting:
“…the Board of Directors prepare a report by September 2016, at reasonable expense and omitting proprietary information, on steps Discovery Communications is taking to foster greater diversity on the Board over time including but not limited to the following:
- The inclusion of women and minority candidates in every pool from which Board nominees are chosen and our company’s plans to advance Board diversity;
- An assessment of challenges experienced and progress achieved.”
As media company operating in a highly competitive environment, investors need to better understand why women – who in aggregate make 73 percent of the buying decisions in the U.S. and reportedly control $12 trillion of $18.4 trillium in consumer spending globally – are not represented on the company’s board.
You can read more about our rationale for a “Yes” vote by clicking here.
* Co-filers to the proposal also include Boston Common Asset Management, City of Philadelphia Pension Board Trust, Connecticut Retirement Plans and Trust Funds, Mercy Health System, the New York State Common Retirement Fund, the Sustainability Group of Loring, Wolcott & Coolidge, the United Methodist Church Foundation and Walden Asset Management.
For more information: Susan Baker, Trillium Asset Management, firstname.lastname@example.org, 617-532-6681
Important disclosure: The information provided in this material should not be considered a recommendation to buy or sell the security mentioned. It should not be assumed that investments in such security has been or will be profitable. To the extent a specific security is mentioned, it was selected by the authors on an objective basis to illustrate views expressed in the commentary and it does not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed as to its