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Fair Investor Access

See related case examples of

Dell Inc.

investor rights to intrinsic value realization


Walgreen Co.

stock buyback policies

"Fair Access" Home Page

"Fair Access" Program Reference

For graphs of specific company and related industry returns, see

Returns on Corporate Capital

For graphs of specific company voting for the past 5 years, see

Shareholder Support Rankings






Forum Report: Fair Investor Access

Responsibilities of Directors for Investor Communications

A summary of the 2012 updated Business Roundtable "Principles of Corporate Governance" was posted on Friday:

Focusing on the views of board responsibility for investor communications that have been evolving since the Forum's 2010 "E-Meetings" program,* the summary includes this as one of the new principles (also stated on page 3 of the full report): " is the responsibility of the corporation to engage with longterm shareholders in a meaningful way on issues and concerns that are of widespread interest to long-term shareholders, with appropriate involvement from the board of directors and management."

 Relating more specifically to the current Forum program's objectives of establishing standards for the use of technologies for more effective investor communications, the full report included this guidance in its section on "Relationships with Shareholders and Other Constituencies" (page 30):

"Corporations should have effective procedures for long-term shareholders to communicate with members of the board and for directors to respond in a timely manner to the concerns of long-term shareholders. Technology can facilitate these procedures. The board, or the corporate governance committee, should oversee and update these procedures as appropriate."

Your comments will be welcomed.

GL – August 20, 2012

Gary Lutin
Chairman, The Shareholder Forum
575 Madison Avenue, New York, New York 10022
Tel: 212-605-0335


* See, for example, October 18, 2010 Agenda: "Companies Prepare for New Investor Communication Demands" and First Quarter 2011, Directors & Boards: cover story, "Fixing the Annual Meeting." For the earlier foundations of these communication policies, see June 25, 2008 Forum Report: Initial Comments on Yale-Deloitte Report and its linked references.


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