Author: sHq_LoGiNz

Each September, Covia comes together for our company-wide Safety Day—a meaningful opportunity to reaffirm our commitment to one of our guiding principles, Safety First. At Covia, safety isn’t just a priority, it’s a deeply rooted core value that shapes every aspect of our operations.

This year’s Safety Day theme is Emergency Preparedness—a reminder of the importance of knowing how to respond when every second counts. In recent years, Covia team members have saved lives using AEDs, underscoring the value of being trained, equipped, and ready to act. Our 2025 Safety Day activities will strengthen our ability to respond swiftly and effectively to emergencies, wherever they occur.

Supporting this commitment is Covia’s Safety & Health Management System, a comprehensive framework that guides our approach to safety across all environments. It includes policy statements, legal compliance, training, contractor safety, and targeted programs addressing chemical, process, mine, rail, and workplace safety. We enforce Covia’s Life-Saving Rules and maintain a robust Emergency Response Plan, continuously integrating emerging standards to enhance risk management and foster a strong safety culture.

Through our management systems, we:

• Track safety performance
• Assess and manage risk
• Ensure proper training
• Host mandatory, company-wide safety reinforcement events
• Embrace change
• Set partner expectations
• Support product safety

We look forward to sharing the successes of our 2025 Safety Day as we continue building a safer, more prepared Covia.

To learn more about Covia’s commitment to Safety, Health, and Security, download our latest Corporate Responsibility Report.

CIRCLEVILLE, Ohio, September 5, 2025 /3BL/ – Sofidel America has successfully started up a third paper machine at its integrated plant in Circleville, Ohio. The milestone, achieved on September 4, 2025, further consolidates the site’s role as the company’s largest and most important production hub worldwide.

The new Valmet DCT 200 machine adds 70,000 tons of annual capacity, bringing Circleville’s total output to more than 200,000 tons per year. With this expansion, Sofidel’s global production capacity rises to 1,983,000 tons annually.

The $185 million investment, first announced in 2023, included both the construction of the new building and installation of the state-of-the-art machine. Once fully operational, the project will also create approximately 80 additional jobs, strengthening Sofidel’s contribution to the local economy.

The successful startup of our third paper machine in Circleville represents a significant step forward in Sofidel’s growth strategy. This achievement reflects both the strength of our U.S. operations and the dedication of the teams who made it possible.

With this expansion, Sofidel reaffirms its long-term commitment to serving the North American market with high-quality, sustainable tissue products while supporting local communities.

By Candace Higginbotham

August 21 is National Senior Citizens Day, but Regions associates are celebrating, serving and protecting seniors in our community all year long.

A few months ago, the Regions Corporate Marketing and Communications team collected household and personal items such as cleaning products, laundry supplies and toilet tissue to be assembled into kits for seniors. The project was coordinated by Madison Terry, Marketing Digital Strategist, who was motivated by her own personal experience.

“I’ve been fortunate to care for my grandmothers, which made me think about those aging without family support,” Terry said. “Many seniors live alone or in facilities without regular visitors. Simple acts like writing letters, assembling care kits or delivering meals show them they’re valued and remembered. It’s our responsibility to ensure they feel connected to the community.”

Simple acts like writing letters, assembling care kits or delivering meals show them they’re valued and remembered. It’s our responsibility to ensure they feel connected to the community.
Madison Terry, Marketing Digital Strategist

Regions Volunteer and United Way Program Manager Susan Clowdus sewed 50 bags for the project, made from recycled United Way campaign t-shirts. The team filled those bags with supplies and attached personal messages, which were delivered to the United Way Area Agency on Aging (UWAAA) of Jefferson County.

The UWAAA of Jefferson County offers focused programs and services for older citizens and those with disabilities. The organization directly assisted nearly 11,000 individuals in 2024 and positively impacted many others through senior center programs, hot meals and help with food, Medicare counseling, caregiver support, prescription drug assistance, legal services, advocacy for long-term care residents and more.

“This is such a great cause,” said Paula Drake, head of Corporate Marketing and Communications. “I’m so happy our team came together to support the independence, dignity and well-being of seniors in their homes. Whether it’s parents, grandparents, friends or neighbors, we all know seniors who need a bit of extra help and care to stay connected, healthy and independent and the UWAAA does just that, from kits like the ones our team put together, to meals to help with navigating a number of other daily needs.”

The UWAAA was grateful for the donation, posting on social media, “This thoughtful gift will go a long way in helping our seniors stay safe, comfortable and cared for in their homes.”

I’m so happy our team came together to support the independence, dignity and well-being of seniors in their homes.
Paula Drake, head of Corporate Marketing and Communications

Another Regions team, the Office of Associate Conduct, also hosted an event for seniors. According to Megan Seaton, Associate Relations manager, the team’s volunteer committee came up with the idea to write personal notes to seniors and deliver them, along with some treats and helpful information about elder fraud, to a Birmingham-area elder-care facility that serves residents with limited financial means and minimal social support.

“Sometimes seniors and their needs can be overlooked, so we thought it would be important to choose a location where we could really make a difference,” said Ashley Batty, Associate Relations Business Partner. “We came together as a group to create homemade cards and goody bags full of chocolates. Some of us delivered them to the South Haven Health and Rehabilitation Center and spent time with the residents.

“They were so happy to see new faces, have people to talk to – and they loved their sweet treats. It was very fulfilling knowing we made such an impact on them that day!”

Emotional Support

This type of outreach can be very meaningful for older individuals in our community. Many seniors have lost loved ones and may face loneliness and isolation, which can be exacerbated by cognitive, mobility or other health challenges. Local United Way chapters are a hub for senior services and can be a helpful resource for volunteer opportunities such as meal delivery, assisted living activities and more.

But reaching out could be as simple as writing a note or sending an ecard. Regions has created special National Senior Citizens Day ecards that can be sent to family members, neighbors, family friends and former teachers – any senior who has made an impact on your life.

Financial Protection

Regions associates are also committed to protecting our seniors. Financial fraud continues to be a problem for older individuals, who may be targeted because they’re often not as tech savvy. Earlier this month, the Federal Trade Commission reported a growing number of scams aimed at retirees’ life savings.

From 2020 to 2024, the number of reports from older adults who lost $10,000 or more to these scams increased more than fourfold. When older adults reported losing more than $100,000, the number of reports increased nearly sevenfold, and the combined reported losses went up eightfold.

World Elder Abuse Awareness Day took place on June 15^th, and Regions published helpful information pointing out the six most common scams that seniors should be on the lookout for. According to Jeff Taylor, head of Commercial Fraud Forensics at Regions, keeping safe can be as simple as taking a few extra steps that help elders, family members and caregivers recognize when something is amiss.

“It’s vitally important that we have conversations with our older family members to help them stay safe,” Taylor said. He recommends closely monitoring credit card and bank account activity, protecting personal information, keeping documents in a safe place, reviewing your credit report, being careful with power of attorney decisions and taking your time with major financial decisions.

Here are some additional resources to help protect seniors from fraud:

• 6 Tips to Spot Elder Fraud: Seniors are among the most vulnerable targets for scammers, but a little caution goes a long way in staying safe.
• Elder Fraud: Five Red Flags. Fraudsters are not respecters of age, sad but true. Be on the lookout for these scams.
• Common Scams Targeting Senior Citizens
• Regions Next Step webinar Spotting The Signs of Elder Financial Exploitation

“Putting people first is a core value at Regions,” said Gina Sian, head of the Regions Making Life Better Institute^®. “And supporting the generations of parents, workers, leaders and mentors who dedicated their lives building the communities we enjoy today is an important part of our community outreach. These seniors cared for us, guided us and invested in our futures. Through our associates’ volunteer services and our financial wellness resources, we have an opportunity to care for them in return.”

These seniors cared for us, guided us and invested in our futures. Through our associates’ volunteer services and our financial wellness resources, we have an opportunity to care for them in return.
Gina Sian, head of the Regions Making Life Better Institute^®

SINGAPORE, September 5, 2025 /3BL/ – Federal Express Corporation, one of the world’s largest express transportation companies, together with Junior Achievement (JA), announced the winners of the 2025 FedEx/JA International Trade Challenge Asia Pacific finals held at a live event in Singapore.

This year’s competition attracted over 4,700 students from 9 markets including Hong Kong SAR, Indonesia, Japan, Malaysia, Philippines, Republic of Korea, Singapore, Thailand, and Vietnam.

54 students gathered in Singapore for the Asia Pacific finals and were tasked to create a market entry strategy for an eco-friendly product that upcycles discarded textiles into sustainable consumer goods, with France being the target market. With growing discourse among consumers on how products affect the environment, and the role corporations can play in shaping a sustainable future, the challenge was particularly relevant. Students were paired into teams of two from different markets, to foster cross-cultural understanding. The student teams then pitched their idea to a panel of judges made up of Singapore’s leading entrepreneurs and small business owners.

“For nearly two decades, FedEx has proudly championed this program, empowering young entrepreneurs to think beyond borders and create solutions that address real-world challenges. In today’s interconnected economy, innovation goes hand in hand with building smarter, more resilient supply chains, and the next generation of business leaders will be at the forefront of this transformation. By fostering their creativity, determination, and global mindset, we’re investing in the future of commerce, one that is more connected, sustainable, and equipped to navigate the complexities of global trade,” said Kawal Preet, president, Asia Pacific, FedEx.

The first-place winners were Team Spicy Noodles, consisting of Jamie Smith from the Republic of Korea and Kathy Nguyen from Vietnam. They impressed the judges with their innovative concept of an eco-friendly upcycling brand that transforms discarded textiles into custom embroidered artwork.

The two runner-up teams were Team Innovement, composed of Janelle Anika S. Tan from the Philippines and Royden So from Hong Kong SAR, who developed a smart wall panel made from discarded textile waste; and Team ReTex, consisting of Panasarn Traithavil from Thailand and Lan Anh Phan from Vietnam, who proposed a new line of residential solar panels.

“Competing alongside such talented peers from across Asia Pacific has been transformative. This challenge pushed us beyond textbook theories into real-world problem-solving, where we learned that successful international trade requires not just business acumen, but cultural sensitivity and genuine collaboration. This experience has given us the confidence to pursue entrepreneurial ventures that can make a meaningful impact across borders,” said Jamie Smith from the Republic of Korea and Kathy Nguyen from Vietnam of the winning Team Spicy Noodles.

“Every time we bring young people together from across the Asia Pacific region, we see not just talent, but vision, drive, and the courage to build a better future for all. The FedEx/JA International Trade Challenge inspires our young leaders to collaborate with their partners, connect across borders, and grow as changemakers. At Junior Achievement, we remain deeply committed to unlocking the latent potential in our children and youth. When shown the trust and given the opportunity, they don’t simply step out into the world – they create a better one.” said Maziar Sabet, president and CEO, JA Asia Pacific.

FedEx believes that investing in mentorship is essential to empowering the next generation of leaders to thrive. Hence, for the first time, the APAC winners will an exclusive opportunity to deepen their understanding of global commerce. They will visit FedEx operations facilities in their local markets and connect directly with team members. This hands-on experience will offer invaluable insights into the complexities of global logistics and supply chain management, equipping them with practical knowledge to complement their entrepreneurial journeys.
The FedEx / JA International Trade Challenge program is jointly organized by FedEx and JA Asia Pacific, a member of JA Worldwide. In the last 19 years, over 50,000 students across Asia Pacific have been introduced to the world of business, economics and international trade through this program which incorporates classroom learning and practical teamwork exercises. In addition to supporting young entrepreneurs through JA ITC, FedEx has been organizing the Small Business Grant Contest (SBGC) to support small-and-medium-enterprises (SMEs) across Asia Pacific.

Judges of the competition, comprised of entrepreneurs and business leaders, were impressed by the organization of the competition and the efforts made by the students.

“The JA judging experience was very meaningful – it gave me a renewed sense of optimism; the future is the next generation – and I was thoroughly impressed by the effort and the proposals by the youth.” Nivedita Venkateish, Founder of Aire.

“I was impressed by the energy, creativity and caliber of the student presentations, and feel very excited about the next generation of entrepreneurs from APAC.” Belina Tan, Vice President, Corporate Communications, The Walt Disney Company.

“The ideas and presentations, all done in only 48 hours were amazing. There’s so much to learn from the youths and I hope this valuable experience will continue to shape them as entrepreneurs throughout their lives.” Kloe Ng, Co-founder of Out of The Box Edu.
“It’s always inspiring to see our brilliant younger generation navigate different languages/cultures and time pressures to present such creative and cogent business pitches. Kudos to JA and FedEx for organizing this challenge year after year.”Ze Ming Chan, Head of Growth Innovation, Foodpanda.

“I found the FedEx/JA student competition a model for helping to prepare our next generation as future leaders and entrepreneurs, I hope the students benefited, I know the judges did, such a heartfelt day of sharing our experiences from work and life, with this group of students from across Asia, they were all amazing.” Rodney Geres, Senior Director, ICE.

“The partnership between FedEx and JA creates a launchpad where the next generation learns that their ideas can travel as far as their imagination. Judging this Challenge was a front-row seat to that impact.” Camille R. Blair Camille, Founder and Chief Executive Officer, Francis LLC.

“The achievement and potential of our next generation in Asia inspire confidence in our future.” Daniel Yeung, Director, Tigris Water Company.

“10 years ago, winning JA’s Social Innovation Relay was the spark that started my journey down the entrepreneurship rabbit hole. It’s been an honor to have the opportunity to sit on the other side of the table and review the tremendously well-crafted presentations by all participating students today, and I hope that they can carry that spark to guide their own journeys to find their passion and voice.” Kristoffer Jacek Soh Zhi Wei, Co-Founder & CEO, Beep.

Click here to learn about FedEx Cares, our global community engagement program.

CLEVELAND – On Friday, August 15, 2025, the Cleveland Cavaliers and KeyBank partnered to host the annual Cavaliers Community Market at The Salvation Army in West Park Corps, continuing their joint effort to tackle food insecurity in Northeast Ohio. Now in its fourth consecutive year, this year’s collaboration featured five summer community markets throughout the region – each providing essential support to local families. Through these ongoing initiatives, the Cavaliers and KeyBank are making a tangible, positive impact on the lives of Northeast Ohio residents.

Watch the video above to see KeyBank and Cavs volunteers in action.

Volunteers from both organizations, including leadership from the Cavaliers, KeyBank and The Salvation Army, joined forces to pack and distribute fresh produce and pantry staples provided by the Greater Cleveland Food Bank. The event served 226 individuals, offering not just food – but hope and support to local families in need.

“It’s not just about writing a check. It’s about lending a hand and building relationships,” said Kelly Lamirand, Cleveland KeyBank Market President and Regional Commercial Leader. “We’re looking to set an example and pay it forward.”

The Community Markets are more than a one-day event; they are a reflection of long-term commitment. By aligning with their mission to remove barriers to opportunity, KeyBank and the Cavaliers are helping to create a stronger, healthier Northeast Ohio.

“We’re truly grateful to have wonderful partners like KeyBank and the Cleveland Cavaliers supporting our monthly produce distributions. These efforts make a meaningful difference, reaching hundreds of families and individuals and providing them with over a week’s worth of fresh, healthy produce every month,” Major Juanita Stanford, Commanding Corps Officer of The Salvation Army in Cleveland West Park Corps.

“Bringing both of our community teams together for such a meaningful initiative truly reflects the heart of who we are – at KeyBank and at the Cavaliers. It’s a powerful demonstration of our shared commitment to making a real impact,” said Kevin Clayton, Cleveland Cavaliers and Rock Entertainment Group Executive Vice President and Chief Impact & Equity Officer.

The Cavaliers Community Market is just one of many impactful ways KeyBank and the Cavaliers partner to give back to the Northeast Ohio community – and the support doesn’t stop there. Both organizations have additional initiatives on the horizon.

Published by Action Against Hunger.

In Somalia, where conflict, displacement, and fragile health systems create immense challenges, maternal and newborn health often hangs in the balance. Mothers-to-be face some of the highest risks in the world; the World Health Organization (WHO) reports that the maternal mortality rate in Somalia is 563 per 100,000 live births, compared to the world average of 197. Action Against Hunger is working with partners and the Government of Somalia to change that reality with the Damal Caafimaad project, ensuring women and children can access life-saving care.

What is the Damal Caafimaad Project, and What is Action Against Hunger’s Role? 

Funded by the World Bank and implemented with partners like Action Against Hunger, the Damal Caafimaad project has been transforming care delivery in some of the most remote and crisis-affected areas since 2021. By tackling systemic barriers, Damal Caafimaad improves both the availability and quality of health services, with a long-term goal of reducing preventable maternal and child deaths across Somalia.

Action Against Hunger works closely with a wide range of stakeholders in the project like the Government of Somalia and community leaders to ensure the solutions are locally owned and led. For this project, we are working in over 92 facilities in the Bay and Bakool regions of Somalia to support health systems strengthening with activities like:

• Expanding maternal, neonatal, and child health services, including emergency obstetric care, family planning, and newborn intensive care.
• Increasing immunization coverage, nutrition support, and disease surveillance.
• Providing care for survivors of gender-based violence.
• Rehabilitating facilities to ensure functionality and patient safety, including water, sanitation, and hygiene (WASH) infrastructure.
• Integrating social safeguards into healthcare, with strong emphasis on community engagement and the inclusion of minority groups and persons with disabilities.
• Complementing the World Bank’s supply of medicines, equipment, and improving data systems for stronger health management.
• Enhancing regional and district health management structures through improved coordination, joint supportive supervision, and capacity‑building training.

Action Against Hunger’s deep ties to local communities make it a vital partner to the Damal Caafimaad project. With nine mobile health teams reaching remote areas, Action Against Hunger reaches people who might otherwise go without care and, when needed refers them to Damal Caafimaad-supported facilities. A wide network of about 384 trained community health workers active across ten regions further strengthens this link by raising awareness, detecting malnutrition, and connecting patients with hospitals and clinics. This community-based approach helps bridge the gap between families and the formal health system, ensuring that lifesaving care reaches even the hardest-to-reach households.

A Mother’s Story: Maryan’s Fight for Life 

At 38 weeks pregnant, Maryan Moalin Abdullahi, a 39-year-old mother arrived at Bayhaaw General Hospital in Bay region in critical condition. She was struggling to breathe, and her blood pressure was dangerously high. Maryan had come from Saakow, Middle Juba, one of the poorest regions in Somalia and where access to healthcare can be limited. Her relatives pooled money so she could be brought by auto rickshaw (or tuk-tuk) over 150 miles to receive care.

The Bayhaaw General Hospital is supported through the Damal Caafimaad project, the Government of Somalia’s flagship program to expand access to essential health services for women, children, and displaced families in underserved regions.

Once Maryan arrived there, the medical team immediately placed her on oxygen and IV fluids and administered vital medications. Still, her condition continued to worsen, and they prepared her for an emergency Caesarean section.

“I was terrified when I arrived, unsure if I would survive,” Maryan recalled. “But the care I received gave me hope and strength to keep fighting.”

Maryan and her baby survived the delivery, but both were in critical condition. Maryan was diagnosed with a chronic heart condition that had worsened during pregnancy, and she had to be treated in the ICU. Her baby boy, Abdullahi Ali, was born prematurely and weighed only four pounds. He was cold, had difficulty breathing and his blood sugar was low. Abdullahi Ali needed intensive neonatal care including oxygen and glucose to survive.

With quality treatment and support from medical staff, both mother and child recovered. Abudllahi Ali’s weight rose to 5 pounds within a week, and Maryan’s condition improved. Now, they are comfortably at home. Abdullahi Ali is breastfeeding well and growing stronger by the day. Maryan’s husband, Ali, is grateful for the care they received: “Seeing my wife and son overcome such a difficult time is a blessing. The hospital’s care saved their lives.”

Maryan is still on medication for her heart condition and has regular follow-up visits. Her ongoing treatment is managed in Saakow with the help of Action Against Hunger community health workers.

“We closely monitor her progress,” said Dr. Abdullahi Hassan Hussein, a physician at Bayhaaw General Hospital who was involved in Maryan’s treatment. “We stay in contact with the family, and our community health workers keep the hospital informed from within the community.” His work, along with that of other health staff, is made possible through the Damal Caafimaad project, which supports training and salaries, ensuring that health professionals can continue serving families in some of Somalia’s most underserved areas.

Maryan’s story is just one example of how investing in maternal health saves lives. Since January 2025, Bayhaaw General Hospital has performed four safe Caesarean deliveries and supported over 670 births. The hospital is one of 56 facilities in Bay region strengthened through Damal Caafimaad with equipment, supplies, staff training, and salaries. Together, these investments are giving mothers the chance to survive childbirth, babies the chance to thrive, and families the chance to hope for a healthier future.

The Future of Healthcare in Somalia 

Somalia has made important strides in expanding access to healthcare despite decades of conflict and crisis. Investments like the Damal Caafimaad project have strengthened public health facilities, trained health workers, and provided vital equipment and medicines to communities that were once out of reach. Through these efforts, Somalia has seen dramatic increases in the quality, availability, and uptake of care. To name a few:

• The Maternal Mortality Ratio (MMR) has nearly halved since 2000, reports the WHO.
• Child immunization rates have risen from 24% in 2012 to 70% in 2024, according to UNICEF.
• A 2023 study found that healthcare seeking for children under five with diarrhea has jumped 49% between 2006 and 2020 in rural areas.

These achievements are building a foundation of trust in the health system and demonstrating that, with the right support, Somalia can make lasting progress in reducing preventable deaths.

However, Somalia’s gains are now at risk. This year, international budget cuts to humanitarian aid threaten to reduce the very resources that have made these improvements possible. Six health facilities and 15 mobile health teams supported by Action Against Hunger were closed due to USAID funding cuts. Without these options for care, more people are relying on Damal Caafimaad clinics, and their capacity is strained. For mothers and children in particular, these cuts could mean longer journeys to reach care, increased risk during childbirth, and more preventable loss of life. Without sustained investment, the trajectory of Somalia’s health system could shift backwards, putting vulnerable families in even greater danger.

While the Damal Caafimaad project has already made significant progress in improving the quality and access of care in Somalia, there is still much work to be done — about 70% of the project’s supported facilities need further rehabilitation. Action Against Hunger is eager to continue partnering with the project and strengthening Somalia’s health system. With sustained support, Somalia can move closer to a future where every mother like Maryan can give birth in a safe environment, and every child like Abdullah Ali has the chance to grow up healthy and strong.

***

Action Against Hunger leads the global movement to end hunger. We innovate solutions, advocate for change, and reach 21 million people every year with proven hunger prevention and treatment programs. As a nonprofit that works across over 55 countries, our 8,900 dedicated staff members partner with communities to address the root causes of hunger, including climate change, conflict, inequity, and emergencies. We strive to create a world free from hunger, for everyone, for good.

Director elections can be a powerful tool for investors to weigh in on ineffective boards.

Most conversations around proxy voting focus on shareholder proposals and executive compensation. Meanwhile, the most significant votes tend to fly under the radar: director elections. Boards of directors play a vital role in representing shareholder interests by overseeing a company’s strategic direction, monitoring management and ensuring accountability for the creation of long-term value.

Director-election votes can be a powerful tool for weighing in on material governance issues. Increasingly, investors are doing just that. In the 2024 proxy season, directors who chaired their board’s nominating and governance committees received 5% more dissenting votes on average, reflecting investors’ willingness to hold specific directors accountable for board composition and broad governance concerns.

Beyond conventional governance issues like director independence or shareholder rights, we have leveraged director elections to convey our perspective on issues ranging from product safety and quality to executive compensation to strategic transactions.

A Higher-Quality Board May Bolster Performance

Our votes are always aimed at improving investment outcomes by promoting good governance. While there are countless reasons that a company may underperform its peers, we have found a clear link between our assessment of a board’s effectiveness (as measured by our director votes) and a company’s future stock performance.

Since 2017, US companies with boards warranting our full support have gone on to deliver stronger median and average stock returns the ensuing year (Display). The results show a strong, consistent correlation across nearly all sectors and company sizes. Simply put, when a board doesn’t meet our expectations, it’s generally a leading indicator of underperformance.

What Makes a Board Effective?

The board of directors is critical in overseeing management’s performance, composition and compensation. An effective board is necessary to managing the risks to a company’s operations and financial performance. Directors of public companies are ultimately responsible for ensuring that management acts in the best financial interests of all shareholders. Effective governance is often most visible during corporate turnarounds, where alignment between management and shareholders is essential.

No matter the company or sector, effective boards are defined by their composition, structure and actions. High-quality board composition entails majority-independent oversight, and a variety of skills and backgrounds, without attendance issues or excessive outside commitments. Structural mechanisms such as formal board committees, majority-vote standards and annual director elections ensure accountability. Lastly, boards demonstrate effectiveness through their actions: aligning pay with performance, ensuring disciplined allocation of capital and engaging with shareholders.

Naturally, not all boards meet these criteria. If we determine that a board’s structure or actions aren’t aligned with our clients’ best financial interests, we may hold relevant directors accountable, which is consistent with our fiduciary duty.

How does this work in practice? At a major US bank, we recognized historical governance shortcomings such as fraud, risk-management failures, workplace misconduct and broad misalignment with shareholders. We then engaged* in a multiyear dialogue with its board and senior leaders, consistently voting against relevant directors. Ultimately, the bank implemented improved oversight mechanisms as a part of a larger cultural overhaul, in addition to improving management incentives.

Keep Your Eye on the Board

We believe that investors should stay focused on a simple question: Is the board delivering for shareholders? Our research shows a clear connection: disappointing boards tend to deliver disappointing results, while boards earning our full support historically outperformed in the following year.

Boards perform best when they know investors are watching. Director-election votes may not make headlines, but they’re where investors’ voices matter most.
 

^{*AB engages issuers where it believes the engagement is in the best financial interest of its clients.}

^{Landon Shea, Investment Stewardship Associate, and Cole Moore, Investment Stewardship Analyst, contributed significantly to the research for this blog.}

The views expressed herein do not constitute research, investment advice or trade recommendations, do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.

Learn more about AB’s approach to responsibility here.