Canadian proxy contests reaching a vote hit a five-year high, campaign volume declined, but the fights that remained went further and hit harder, and boards with real shareholder relationships came out on top.
Download Kingsdale Advisors' most comprehensive look at what's reshaping Canadian and U.S. boardrooms. Covering July 1, 2025, to June 30, 2026, the report shows a shareholder landscape that's more fragmented and harder to predict, with more of the voting decision moving in-house with investors themselves.
The in-depth research also examines CEO succession at S&P/TSX Composite companies overthe past three years, and what the difference between planned and reactive transitions reveals about board preparedness.
- Contests reaching a vote hit a five-year high, up 39% year over year.
- Large-cap activist targets more than doubled, from 4% to 9%.
- M&A activism drove 40% of campaigns, above the five-year average.
- Say-on-Pay support reached a five-year high of 93.4%.
- Governance proposals more than doubled to 56.
Latest Insights
Kingsdale's Guide to Your 2025 Annual General Meetings
From boosting voter turnout to navigating diversity requirements and fine-tuning your ESG strategy, our comprehensive guide and practical checklist are thoughtfully designed to help you prepare for your meeting and address potential challenges head-on.
Exclusive Report: Early Insights - 2025 Proxy Season (Canada)
From rising shareholder activism to evolving diversity expectations and cross-border regulatory shifts, our latest report delivers early insights and practical guidance to help boards stay ahead of this year’s most pressing proxy season developments.
Kingsdale Advisors' Clients Shine at IR Impact Awards 2025
Kingsdale Advisors is proud to extend our congratulations to the exceptional companies we have the privilege of advising, who collectively earned four awards and 29 nominations at the 2025 IR Impact Awards – Canada.
When The Stakes Are Highest, Business Leaders Choose Kingsdale
Subscribe to Our Newsletter
* 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.