The logo for Vanguard is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022.
Support for shareholder resolutions calling for such steps has declined at U.S. companies this year, with top asset manager BlackRock saying it backed the mostly-advisory measures just 7% of the time, down from 22% last year.
Like BlackRock, Vanguard noted new securities regulations that make it harder for companies to leave questions off their ballots.
In a note on its website, Vanguard also said many resolutions sought changes that might not be needed.
Like BlackRock, Vanguard did not address how the criticism may have shaped votes this year but said its approach to evaluating shareholder proposals "has been consistent over time."
Persons:
Brendan McDermid, Ross Kerber, Diane Craft
Organizations:
Vanguard, New York Stock Exchange, REUTERS, U.S, BlackRock, Thomson
Locations:
New York City, U.S, Pennsylvania, BlackRock