THE DOW CHEMICAL COMPANY | Independent board chairman at THE DOW CHEMICAL COMPANY
How other organisations have declared their voting intentions
| Organisation name | Declared voting intentions | Rationale |
|---|---|---|
| KBI Global Investors | For | |
| Sandbar Asset Management LLP | For | |
| Anima Sgr | For | We are aware that many large companies maintain the combined posts of chairman and CEO; however, it is generally in shareholders' best interest to separate these positions. The board's primary responsibility is to represent the company's shareholders, as well as to provide management oversight and ensure accountability. Potential conflicts of interest may arise when one person holds both the chairman and CEO positions. We are in favor of the separation of the chairman and CEO positions as a matter of good corporate governance. Inherent in the chairman's job description is the duty to assess the CEO's performance. This role of objectively assessing CEO performance is compromised when a chairman is in charge of evaluating her/his own performance as CEO. This objectivity may also be compromised, or may be perceived to be compromised, when an affiliated board chairman is in charge of evaluating and reviewing the performance of management. Moreover, a unified chairman and CEO position poses a direct threat to the smooth functioning of the entire board process since it is the ultimate responsibility of the chairman to set the agenda, facilitate discussion, and make sure that directors are given complete access to information in order to make informed decisions. |
| Irish Life Investment Managers | For |
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