Companies Say They Are Better Prepared to Host Virtual Annual Meetings This Year
By: Wall Street Journal
April 26, 2021
Some of the companies that are once again hosting their annual shareholder meetings virtually this year are hoping to improve the experience for investors, many of whom felt muted last year after the sudden shift to remote technology.
Warren Buffett’s Berkshire Hathaway Inc., pharmaceutical giant Pfizer Inc. and Dutch software and services company Wolters Kluwer NV are among the companies working to increase interaction with their shareholders, from allowing investors to pose live questions and interact with management, allocating more time for questions to incorporating new videoconferencing tools.
The bulk of annual investor meetings—which take months of preparation—usually is held between mid-April and June. Last spring, many businesses abruptly switched to remote events after lockdown orders and restrictions were put in place to slow the spread of the coronavirus pandemic. The last-minute changes to a virtual format resulted in shorter meetings, fewer direct questions and technical glitches that prevented some shareholders from voting.
…This year, 346 companies, or 86% of a total of 403 in the S&P 500 that filed their proxy statement through April 22, said they would hold their annual shareholder meeting remotely as large physical gatherings remain restricted, according to data provider MyLogIQ.
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