In looking at the companies that had “failed” SOP votes in 2011, it now looks like five (5) had their SOP votes “fail” in 2012 as well:
- Cooper Industries
- Hercules Offshore
- Kilroy Realty
- Nabors Industries
- Tutor Perini
Support for several other SOP votes at companies with 2011 SOP failures have come in under 70%:
- Cogent Communications Group, Inc. – 68.45%
- Janus Capital Group Inc. – 61.38%
- Nutri System – 66.23%
- Weatherford International – 54.49%
All of these companies will come under closer scrutiny by ISS next year as a result. Those five (5) companies with 2 successive years of failed SOP votes (depending on how you count abstentions), will have a difficult time with their shareholders and may have to consider making some substantial changes in order to turn things around next year.
The chart below tracks the votes that have been recorded so far at companies that had SOP votes fail to secure a majority of the votes in their 2011 SOP votes (click on the graphic to expand it to readable size).