RW Success: Intel scraps online-only annual meeting

Cross Border Logo

"When Intel first announced plans to move its annual shareholder meeting exclusively online, the company did not anticipate the shareholder backlash. ‘We thought it was going to be completely non-controversial. We just have local retirees come to the physical meeting,’ says Cary Klafter, Intel’s VP of legal and corporate affairs and corporate secretary. [...]

Timothy Smith, senior VP of Walden Asset Management’s environmental, social and governance group, believes virtual meetings create a ‘disembodied experience’ for the shareholder. If you are alone at home or in your office, ‘how do you know for sure if other investors are also concerned about x or y?’ Smith asks. [...]

A shareholder resolution filed with Intel, including signatories from Walden Asset Management and United for a Fair Economy (UFE), states, ‘We believe the tradition of in-person annual meetings plays an important role in holding management accountable to stockholders. In contrast, online-only annual meetings could allow companies to control which questions and concerns are heard and manipulate the exchanges between shareowners and the company. Face-to-face annual meetings allow for an unfiltered dialogue between shareholders and management.’ [...]"

Read the full article by Katie Feuer in Cross Border's IR Magazine.

Be the first to comment

Please check your e-mail for a link to activate your account.


184 High St., Suite 603
Boston, MA 02110
(617) 423-2148


711 Mason Road
Durham, NC 27712

We gather as guests on Indigenous land

Created with NationBuilder