2019 Corporate Governance Roundtable

March 20-21, 2019 
Wasserstein Hall, Harvard Law School
1585 Massachusetts Avenue,  Cambridge, MA 02138

Supported by

The Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of Abernathy MacGregor, Bank of America, BP, Broadridge, Brunswick Group, the CAF Group, Capital One, CFA Institute, Chevron, the Coca-Cola Company, Coherent Economics, Deloitte, Edison International, Eli Lilly, Emerson, Evercore, Gilead Sciences, Gladstone Place Partners, Goldman Sachs, H&R Block, Innisfree M&A Incorporated, Intel, Joele Frank, Kekst CNC, King & Spalding, LabCorp, Lazard Freres, Mastercard, Microsoft, Moelis & Company, Morgan Stanley, Nasdaq, Okapi Partners, Pay Governance, PepsiCo, Phillips 66, Prudential Financial, PwC, Range Resources, Regions Financial, Russell Reynolds Associates, Semler Brossy, State Street Corporation, Synchrony Financial, Teneo, and Wells Fargo.

The Program on Corporate Governance wishes to thank its Knowledge Partners: Akin Gump Strauss Hauer & Feld LLP, Baker McKenzie, Cadwalader, Wickersham & Taft, Cleary Gottlieb, Cornerstone Research, Davis Polk, Debevoise & Plimpton, Fenwick & West, Fried Frank, Gibson Dunn, Jenner & Block, Kirkland & Ellis, Latham & Watkins, Mayer Brown, Morrison Foerster, Ropes & Gray, Shearman & Sterling, Sidley Austin, Simpson Thacher, Skadden, Sullivan & Cromwell, Vinson & Elkins, White & Case, Wilson Sonsini Goodrich & Rosati, and Winston & Strawn.

The Program on Institutional Investors wishes to thank the institutional members of the Harvard Institutional Investor Forum: AllianceBernstein, BlackRock, BNY Mellon, Caisse de Dépôt et Placement du Québec, California Public Employees’ Retirement System, California State Teachers’ Retirement System, Charles Schwab Investment Management, Colorado Public Employees’ Retirement Association, Dimensional Fund Advisors, Fidelity, Franklin Templeton Investments, Goldman Sachs Asset Management, JPMorgan Asset Management, Legal & General Investment Management America, MFS Investment Management, Norges Bank Investment Management, Nuveen, Ontario Teachers’ Pension Plan, PGGM Investments, State Board of Administration of Florida, State Street Global Advisors, USS Investment Management, Vanguard, and Wellington Management.

Finally, the Program on Corporate Governance and the Program on Institutional Investors would like to thank the members of the Program on Corporate Governance Advisory Board, the Harvard Institutional Investors Forum Advisory Council, and the Corporate Governance Roundtable Advisory Council.

Wasserstein Hall, Harvard Law School, 1585 Massachusetts Avenue
Cambridge, MA 02138

Co-Organizers: Lucian Bebchuk, Stephen Davis, and Roberto Tallarita


List of Participants

Background Materials



Contact Information


March 20, 2019
Loeb House

17 Quincy Street, Cambridge, MA 02138

6:45 pm Reception
7:30 pm Dinner

March 21, 2019
Harvard Law School

Wasserstein Hall, Room 2012 (second floor)
1585 Massachusetts Avenue, Cambridge, MA 02138

8:00–9:00 am Registration and continental breakfast
9:00–10:20 am First morning session: A conversation with the Honorable Leo E. Strine, Jr., Chief Justice of the Delaware Supreme Court
10:20–10:40 am Coffee break
10:40–11:30 am Second morning session
11:30–11:50 am Coffee break
11:50 am–12:40 pm Third morning session
12:40–1:40 pm Lunch
1:40–2:35 pm First afternoon session
2:35–2:55 pm Coffee break
2:55–3:50 pm Final session
3:50–5:00 pm Closing reception
4:00–5:00 pm Issuer-only meeting in Room 3016
Mutual fund and pension fund-only meeting in Room 3034

Roundtable Discussion Topics

The Roundtable will focus on recent developments and current issues in corporate governance, paying significant attention to issues that are likely to arise in the coming proxy season. The Roundtable will begin with a keynote session featuring a conversation with the Chief Justice of the Delaware Supreme Court, Leo E. Strine, Jr. The Roundtable will then proceed to a review of the 2018 proxy season and a preview of the 2019 proxy season. Subsequently, depending on the interests of roundtable participants, subjects that the Roundtable may discuss are: (1) social responsibility issues, including corporate purpose and culture, social responsibility proposals, ESG metrics and disclosures, and exclusion of “ordinary business” proposals; (2) current regulatory proposals and legal developments, such as those regarding mandatory arbitration, the California Bill on board diversity, proposals for federal corporate law, revision of eligibility requirements for shareholder proposal submissions, and universal proxies; (3) board of directors, including board diversity and composition, decision-making in the age of #MeToo, board independence and evaluation; and (4) engagement between issuers and investors, including such topics as the emerging consensus on governance arrangements, virtual meetings, and proxy access.

List of Participants

Michael Albano Partner, Cleary Gottlieb
Maryellen Andersen Corporate Governance Officer, Vice President, Institutional Investor and Corporate Relations, Broadridge Financial Solutions
Michele Anderson Associate Director of the Division of Corporation Finance, SEC
Lindsey Apple Corporate Governance and Proxy Voting Manager, MFS Investment Management
Marta Baztarrica Director, Corporate Secretary and Chief Legal Officer, The CAF Group
Lucian Bebchuk James Barr Ames Professor of Law, Economics, and Finance, Harvard Law School
David Bell Partner/Co-Chair, Corporate Governance, Fenwick & West
David J. Berger Partner, Wilson Sonsini Goodrich & Rosati
Barbara Berlin Director, Governance Insights Center, PwC
Jens Bertelsen Company Secretary, BP p.l.c.
Michael Brueck Partner, Kirkland & Ellis
Maureen Bujno Managing Director – Center for Board Effectiveness, Deloitte LLP
Ray Cameron Head of Investment Stewardship – Americas, BlackRock
Steven Canner Partner, Baker McKenzie
Paul Clancy Structured Finance Counsel, Synchrony Financial
Pam Codo-Lotti Managing Director, Goldman Sachs
Mary Colby Head of Investment Stewardship, Charles Schwab Investment Management
Heather Coleman Partner, Sullivan & Cromwell
Chris Couvelier Director, Shareholder Advisory, Lazard Freres
Arthur B. Crozier Chairman, Innisfree M&A Incorporated
Stephen Davis Associate Director and Senior Fellow, Programs on Corporate Governance and Institutional Investors, Harvard Law School
Tricia Decker Project Manager Specialist, Office of the Corporate Secretary, Nasdaq, Inc.
Mark Director Partner, Gibson Dunn
Jonathan Doorley Partner, Brunswick Group
Renata Ferrari Partner, Ropes & Gray
Richard Fields Counsel & Director, Corporate Stakeholder Engagement, King & Spalding
Michael Flaherty Senior Vice President, Gladstone Place Partners
Peggy Foran Chief Governance Officer, Senior Vice President and Corporate Secretary, Prudential Financial
Stephen Fraidin Partner, Cadwalader, Wickersham & Taft
Mary A. Francis Corporate Secretary and Chief Governance Officer, Chevron Corporation
Michael Garland Assistant Comptroller – Corporate Governance and Responsible Investment, Office of New York City Comptroller
Marc Gerber Partner, Skadden
Tom Gerke General Counsel and Chief Administrative Officer, H&R Block
Linda Giuliano Senior Vice President and Head of Responsible Investment, AllianceBernstein
Marc Goldstein Head of U.S. Research, ISS
Jessy Hayem Director, Relationship Investing, Equity Markets, CDPQ
Michael Henry Director and Managing Attorney, Edison International
Alexandra Higgins Managing Director, Okapi Partners
John Hoeppner Head of US Stewardship and Sustainable Investments, Legal & General Investment Management America
Nicolas Huber Managing Director – Head of Corporate Governance, DWS Group
Ross E. Jeffries, Jr. Deputy General Counsel and Corporate Secretary, Bank of America
Paula Johnson Executive Vice President, Legal & Government Affairs, General Counsel & Corporate Secretary, Phillips 66
Tom Johnson Chief Executive Officer, Abernathy MacGregor
Jonas Jølle Head of Governance, Norges Bank Investment Management
Blair Jones Managing Director, Semler Brossy Consulting Group
Adam Kanzer Head of Stewardship – Americas, BNP Paribas Asset Management
Robert Katz Partner, Shearman & Sterling
Courteney Keatinge Senior Director, ESG Research, Glass Lewis
John Kelsh Partner, Sidley Austin
Matthew Kimmel Vice President, Regulatory and Executive Compensation Consultant, State Street Corporation
Polly Klane Senior Vice President and Chief Counsel, Commercial, Corporate & Governance, Capital One Financial Corporation
Jeffrey Kochian Partner, Akin Gump Strauss Hauer & Feld LLP
Bill Kucera Partner, Mayer Brown
Nishesh Kumar Managing Director, J.P. Morgan Asset Management
Brian Lane Partner, Pay Governance
Jackie Liu Partner and Co-Chair, Global Corporate Department, Morrison & Foerster LLP
Kara Mangone Managing Director, Investor Relations, Goldman Sachs
Bronwen Mantlo Vice President, Deputy General Counsel and Corporate Secretary, Eli Lilly
Bob Marese Managing Director, MacKenzie Partners
Debra McCormack Managing Director – Center for Board Effectiveness, Deloitte LLP
Janet McGinness Corporate Secretary, Mastercard
Caitlin McSherry Assistant Vice President, Asset Stewardship, State Street Global Advisors
Hope Mehlman EVP, Chief Governance Officer & Assistant Corporate Secretary, Regions Financial
Lauren Nussbaum Senior Account Executive, Joele Frank
Rusty O’Kelley III Global Leader Board Advisory and Effectiveness, Russell Reynolds Associates
Zach Oleksiuk Managing Director, Evercore
Brett Pletcher EVP, General Counsel, Chief Compliance Officer and Corporate Secretary, Gilead Sciences, Inc.
Mike Pressman Assistant General Counsel, Microsoft
Sean Quinn Senior Vice President, Teneo
Peter Reali Senior Director, Responsible Investing, Nuveen
Luciana Rivera Research and Operations Analyst, BNY Mellon
Carolina San Martin Managing Director and Director, ESG Research, Wellington Management
Kurt Schacht Managing Director, Advocacy, CFA Institute
Joel Schneider Deputy Head of Portfolio Management, North America, Dimensional Fund Advisors
David Segal Portfolio Manager, Franklin Templeton Investments
Vidish J. Shah Mergers & Acquisitions – Shareholder Activism and Corporate Defense, Morgan Stanley
John Sperino Vice President for Governance and Securities and Assistant Corporate Secretary, Emerson
Leo E. Strine, Jr. Chief Justice, Delaware Supreme Court
Darla Stuckey President & CEO, Society for Corporate Governance
Roberto Tallarita Associate Director and Research Fellow, Harvard Law School Program on Corporate Governance
Elina Tetelbaum Partner, Wachtell, Lipton, Rosen & Katz
Courtney Tygesson Partner, Winston & Strawn
Laurel Van Allen Senior Vice President, Coherent Economics
Sandra van der Vaart SVP and Global General Counsel, LabCorp
Craig Wadler Managing Director, Moelis & Company
Dieter Waizenegger Executive Director, CtW Investment Group
Jonathan Watkins Partner, Cadwalader, Wickersham & Taft
Steven J. Williams Partner, Paul Weiss

Background Materials

I. Keynote Session with
Chief Justice Leo E. Strine, Jr.

II. Toward the 2019 Proxy Season

A. 2018 Proxy Season

B. The Coming Proxy Season

C. ISS / Glass Lewis Updates for the 2019 Proxy Season

III. Social Responsibility

A. Corporate Purpose and Culture

B. Social Responsibility Proposals

C. ESG Metrics and Disclosures

D. Exclusion of “Ordinary Business” Proposals

IV. Current Legal Developments and Proposals

A. Federal Incorporation

B. Mandatory Arbitration

C. The California Bill on Board Diversity

D. Eligibility for Shareholder Proposal Submissions

E. Universal Proxy

V. Boards

A. Board Skills, Diversity and Composition

B. Boards in the Age of #MeToo

C. Board Independence and Evaluation

VI. Engagement Between Issuers and Investors

A. Current Thinking on Engagement

B. Emerging Consensus?

C. Virtual Meetings

D. Proxy Access


Below we have provided maps from the nearby hotels to the location of the conference at Harvard Law School. If you’re arriving by taxi, direct the driver to 1585 Massachusetts Avenue in Cambridge, north of Harvard Square.

Dinner on Wednesday, March 20, will take place at Loeb House, located at 17 Quincy Street in Cambridge. The conference on Thursday, March 21, will be held at Harvard Law School, Wasserstein Hall, Room 2012 (second floor), 1585 Massachusetts Avenue, Cambridge, MA 02138.

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The Charles Hotel
1 Bennett Street
Cambridge, MA 02138

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Sheraton Commander Hotel
16 Garden Street
Cambridge, MA 02138

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Hyatt Regency Cambridge
575 Memorial Drive
Cambridge, MA 02139

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Hotel Marlowe
25 Edwin H. Land Boulevard
Cambridge, MA 02141

Directions to the Pre-Conference Dinner on Wednesday, March 20

Wednesday, March 20, we will hold a reception and dinner at Loeb House, 17 Quincy Street, Cambridge. The reception will commence at 6:45 pm and the dinner at 7:30 pm.

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Loeb House
17 Quincy Street
Cambridge, MA 02138


Below is the information for recommended hotels in the Cambridge area. The Charles Hotel and the Sheraton Commander are within walking distance of the law school, but please note that the Hyatt Regency Cambridge and the Hotel Marlowe would require a taxi to the law school.

The Charles Hotel: charleshotel.com

Sheraton Commander: sheratoncommander.com

Hyatt Regency Cambridge: cambridge.hyatt.com/en/hotel/home.html

Hotel Marlowe: hotelmarlowe.com

Contact Information

For more information please contact Kat Linnehan, Administrative Director, at:

Office (617) 495-8254
[email protected]

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