Few priorities are more urgent for boards today than communications with their shareholders. While the need for engagement is not a new addition to leading governance issues, the investor environment has only become more vocal, speaking out for higher standards and a greater level of transparency.
Mainstream asset managers - including major index funds such as Vanguard, BlackRock, and State Street - are speaking out more forcefully on issues like board diversity, company culture and climate change. Public pension funds such as the Office of the New York City Comptroller have been making their influence felt in areas such as proxy access. And activist investors continue to press for changes to their target companies’ strategies - often by seeking seats on the board.
Glenn Booraem is the head of Investment Stewardship and a principal at Vanguard, one of the world’s largest investment management firms. Vanguard manages more than US$5 trillion on behalf of its 20 million clients worldwide.
Mr. Booraem joined Vanguard in 1989, and has led its investment stewardship efforts since 2001. He has also served as the controller and treasurer for each of the Vanguard funds. In addition to engaging with the Vanguard funds’ portfolio companies and serving as a frequent speaker on corporate governance matters, he also represents Vanguard and its investors through a number of initiatives including Investor Stewardship Group, Investor Advisory Group for the Sustainability Accounting Standards Board (SASB), Investor Advisory Board for CECP’s Strategic Investor Initiative, National Association of Corporate Directors’ (NACD) Blue Ribbon Commission on Building the Strategic Asset Board (2016), Shareholder-Director Exchange (SDX) Protocol (2013), Advisory Board on Corporate/Investor Engagement for The Conference Board Governance Center (2013), New York Stock Exchange (NYSE) Commission on Corporate Governance (2010), and NYSE Proxy Working Group (2006).
Mr. Booraem has been named to the NACD Directorship 100 list each year since 2010, as one of the most influential people in corporate governance. He is a graduate of Temple University and the Advanced Management Program at Harvard Business School.
Mr. Silverman joined Blue Harbour Group in 2005. Prior to joining Blue Harbour Group, he was an analyst on the Huff Alternative Fund at WR Huff Asset Management from 2001 until 2005. Mr. Silverman received an A.B. from Princeton University in 2001. Mr. Silverman holds the Chartered Financial Analyst designation. He is a member of the ICGN Board Governance Committee and the former Chair of the NYSSA’s Corporate Governance Committee. In addition to his investing responsibilities, Mr. Silverman oversees the firmwide effort to integrate Environmental, Social, and Governance (ESG) considerations into investments and engagements.