Proposals for the 2013 Proxy Season
This webpage contains information about precatory declassification proposals that institutional investors that worked with the SRP clinic submitted for voting at annual meetings of 76 S&P 500 and Fortune 500 companies with classified boards during the 2013 proxy season. The proposals urged repeal of the companies’ classified boards and a move to annual elections, which are widely viewed as corporate governance best practice.
The SRP clinic and investors that worked with the SRP clinic engaged with companies receiving shareholder declassification proposals, and some of the companies receiving shareholder proposals agreed to take steps necessary to declassify their boards.
The eight institutional investors with which the SRP worked during the 2013 proxy season in connection with these proposals were the Illinois State Board of Investment (ISBI), the Los Angeles County Employees Retirement Association (LACERA), the Nathan Cummings Foundation (NCF), the North Carolina Department of State Treasurer (NCDST), the Ohio Public Employees Retirement System (OPERS), the Massachusetts Pension Reserves Investment Management Board (PRIM), the Florida State Board of Administration (SBA) and the School Employees Retirement System of Ohio (SERS).
The table below lists each of the S&P 500 and Fortune 500 companies to which institutional investors that worked with the SRP clinic submitted declassification proposals, together with the proponent for each proposal.
| Company | Proponent |
| Agilent Technologies, Inc. (A) | ISBI |
| Air Products and Chemicals, Inc. (APD) | PRIM |
| Airgas, Inc. (ARG) | LACERA |
| Apache Corporation (APA) | ISBI |
| Ashland Inc. (ASH) | PRIM |
| Autoliv, Inc. (ALV) | LACERA |
| Baxter International Inc. (BAX) | NCF |
| Bemis Company, Inc. (BMS) | NCDST |
| Best Buy Co, Inc. (BBY) | NCF |
| BorgWarner Inc. (BWA) | NCF |
| CareFusion Corporation (CFN) | NCF |
| CarMax, Inc. (KMX) | NCF |
| Celanese Corporation (CE) | ISBI |
| Centene Corporation (CNC) | ISBI |
| Cerner Corporation (CERN) | ISBI |
| CF Industries Holdings, Inc. (CF) | LACERA |
| Chipotle Mexican Grill, Inc. (CMG) | ISBI |
| CIGNA Corporation (CI) | OPERS |
| Cognizant Technology Solutions Corporation (CTSH) | LACERA |
| Costco Wholesale Corporation (COST) | PRIM |
| Crown Castle International Corp. (CCI) | SERS |
| DENTSPLY International Inc. (XRAY) | LACERA |
| Edwards Lifesciences Corporation (EW) | ISBI |
| EQT Corporation (EQT) | OPERS |
| F5 Networks, Inc. (FFIV) | ISBI |
| FLIR Systems, Inc. (FLIR) | NCF |
| FMC Corporation (FMC) | NCF |
| Foot Locker, Inc. (FL) | NCDST |
| Hess Corporation (HES) | NCDST |
| Huntsman Corporation (HUN) | SBA |
| Jacobs Engineering Group Inc. (JEC) | PRIM |
| Jarden Corporation (JAH) | NCDST |
| Johnson Controls, Inc. (JCI) | PRIM |
| Kellogg Company (K) | NCDST |
| Lexmark International, Inc. (LXK) | NCDST |
| Limited Brands, Inc. (LTD) | ISBI |
| Lincoln National Corporation (LNC) | SERS |
| Lorillard, Inc. (LO) | ISBI |
| Manpower Inc. (MAN) | SBA |
| Marathon Petroleum Corporation (MPC) | NCF |
| Masco Corporation (MAS) | ISBI |
| Monsanto Company (MON) | PRIM |
| Moody's Corporation (MCO) | NCF |
| The Mosaic Company (MOS) | OPERS |
| NCR Corporation (NCR) | SBA |
| Netflix, Inc. (NFLX) | SBA |
| NII Holdings, Inc. (NIHD) | SBA |
| Owens Corning (OC) | ISBI |
| PACCAR Inc. (PCAR) | NCDST |
| People's United Financial, Inc. (PBCT) | NCDST |
| Perrigo Company (PRGO) | LACERA |
| PPG Industries, Inc. (PPG) | NCDST |
| QEP Resources, Inc. (QEP) | ISBI |
| Red Hat, Inc. (RHT) | LACERA |
| Reinsurance Group of America, Incorporated (RGA) | SERS |
| Rockwell Collins, Inc. (COL) | PRIM |
| Ryder System, Inc. (R) | NCDST |
| salesforce.com, inc. (CRM) | NCF |
| SCANA Corporation (SCG) | SERS |
| Snap-On Incorporated (SNA) | NCDST |
| SPX Corporation (SPW) | SBA |
| St. Jude Medical Inc. (STJ) | ISBI |
| Tech Data Corporation (TECD) | SERS |
| Teradata Corporation (TDC) | NCDST |
| The J. M. Smucker Company (SJM) | LACERA |
| United Natural Foods, Inc. (UNFI) | ISBI |
| United States Steel Corporation (X) | NCDST |
| Urban Outfitters, Inc. (URBN) | ISBI |
| US Airways Group, Inc. (LCC) | ISBI |
| V. F. Corporation (VFC) | NCF |
| Varian Medical Systems, Inc. (VAR) | PRIM |
| Vornado Realty Trust (VNO) | ISBI |
| Vulcan Materials Company (VMC) | ISBI |
| WellPoint, Inc. (WLP) | LACERA |
| WESCO International, Inc. (WCC) | LACERA |
| Xylem Inc. (XYL) | NCF |