Proxy Firm Seeks Board Director Removal Over Excluded Proposal

One of the world’s largest proxy firms, ISS, took the unusual step of opposing a board director’s reelection after the S&P 500 company kept investors from voting on a shareholder proposal.

This is the first time in 2026 Institutional Shareholder Services Inc. has recommended against a director because of a shareholder proposal exclusion, according to a person familiar with the firm’s assessment of corporate ballot matters. The other most notable proxy adviser, Glass, Lewis & Co., has not yet endorsed action against a US-based company director over a similar situation, a spokesman confirmed.

The proposal ISS is referring to had ...