Proxy Vote Update: General Mills, Inc.

August 30, 2014

phil

Financial Activism, Proxy Votes

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Below are the resources for and the results of our recent Proxy Vote on behalf of our clients:
Proxy Materials:

rF Voting results:

  1. Vote for the election of of the following nominees:
    1. Bradbury H. Anderson – For
    2. Paul Danos – For
    3. R. Kerry Clark – For
    4. Henrietta H. Fore – For
    5. Raymond V. Gilmartin – For
    6. Judith Richards Hope – For
    7. Heidi G. Miller – For
    8. Hilda Ochoa-Brillembourg – For
    9. Steve Odland – For
    10. Kendall J. Powell – Against (Conflict of Interest).
    11. Michael D. Rose – For
    12. Robert L. Ryan – For
    13. Dorothy A. Terrell – For
  2. Cast an advisory vote on executive compensation:  Against (Awards are excessive).
    1. This was a close thing because management and performance have been strong compared to the industry.  We do believe that the executive team deserves rewards in excess of other firms, however, the amount is still excessive so we still had to cast our vote against.
  3. Ratify the appointment of KPMG LLP as General Mills’ independent registered public accounting fi rm for our fi scal year ending May 31, 2015:  For
  4. Stockholder Proposal for report on packaging:  Against (Unreasonable request considering General Mill’s current efforts).
  5. Stockholder Proposal for elimination of genetically modified ingredients : Against (Does not make economic sense).
Post by Phil Ratcliff

Phil Ratcliff, President of rebel Financial, is a senior financial advisor that holds an AIF®, CFP®, ChFC®, and CLU® certifications. He started his career at American Express Financial Advisors in 2003, then moved to AXA Advisors for 7 years before founding rebel Financial LLC in 2013.