Kingsdale Advisors' 2025 Proxy Season Review is the most comprehensive look at how shifting regulation, activist pressure, and emerging investor demands are creating a governance environment as unpredictable as it is consequential.
- 67 campaigns tracked with more than 75% of victories via settlement.
- Diversity & climate disclosure face political pushback.
- AI on the agenda with 14 shareholder proposals in 2025.
- ISS and Glass Lewis face mounting scrutiny from lawmakers.
- 2026 could bring disruption with new pay-for-performance models.
Latest Insights
2022 North American Proxy Season Review
This year, Canadian targets were subject to 35 proxy contests – the lowest since 2017, while activists wrestled the win rate back in their favour with 52% and gained increasing support from proxy advisors and institutional investors.
ISS 2023 Benchmark Policy Updates
On December 1, 2022, ISS released updates to its 2023 benchmark proxy voting policies. The updated policies will apply to shareholder meetings taking place on or after February 1, 2023, except for those that are being announced now with a one-year transition period and which will become effective in 2024.
2022 Proxy Season Snapshot
An early look at the key trends and major issues affecting shareholder activism and corporate governance in 2022.
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* Source: Bloomberg Global Shareholder Activism League Tables FY2025 and LSEG Global Shareholder Activism Review FY2025.
#2025 and 2026 indicate proxy seasons: July 2024 to June 2026.