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Wall Street Investors Show More Displeasure With Company Boards

  • Directors get less than 80% support, the worst in seven years
  • Exxon Mobil, Wells Fargo among companies facing pressure
While largely symbolic, the votes at companies such as Wells Fargo and Exxon Mobil are recognized as signals of displeasure.

While largely symbolic, the votes at companies such as Wells Fargo and Exxon Mobil are recognized as signals of displeasure.

Photographer: Patrick T. Fallon/Bloomberg
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Big investors are losing patience with unresponsive corporate directors, and they’re showing it with their votes.

Shareholders have withheld 20 percent or more of their votes for 102 directors at S&P 500 companies so far this year, the most in seven years, according to ISS Corporate Solutions, a consulting firm specializing in corporate governance. While largely symbolic, the votes at companies such as Wells Fargo & Co. and Exxon Mobil Corp. are recognized as signals of displeasure and put pressure on boards to engage.