NIRI Philadelphia members (left to right) Andrew Bjorkman, Alex Whitelam, Lisa Caperelli, and Curt Brooks with Penny Zenker (seated), “the focusologist,” with her book, “The Reset Mindset.”
James Kelly of Leerink
Partners and Charlie DyReyes of Rockefeller Capital Management, discussed how the buy- and sell-side are using AI to streamline their workflow and enhance their diligence processes.
• Consider assumptions that might create obstacles to asking more questions. For example, a sense of time pressure and power dynamics in the room could be barriers. Next up was a panel discussion on managing
expectations and new regulations with passive investors that included Evie Boland, Associate Director, Governance & Sustainability at Rivel and Michael Wherley, Vice President Investor Relations at Stanley Black and Decker and a member of the NIRI Philadelphia Board of Directors. With passive ownership of equity funds close
to 60% (versus 40% ten years ago), these funds are an increasingly large part of the shareholder base of many companies and hold meaningful votes during proxy season. As such, it’s important for companies to include
passive investors as part of their annual shareholder outreach program. For some companies, that out- reach is beneficial not only for the IR or governance stewardship teams, but also for the company board members, as they have the opportunity to hear feedback from key investors.
ni ri .org/ irupdate
Also discussed were the recent changes by the
U.S. Securities and Exchange Commission (SEC) around Form 13G/13D filings, which draws a finer line around what constitutes an “activist” share- holder. In response, many firms (including large passive investors) are adjusting the language in their proxy guidelines or becoming less proactive in raising certain issues with IR or management. Te conclusion should not be that these issues
have become less important to many shareholders, but rather that they need to more carefully navigate how to engage in dialogue on certain topics. For example, as part of shareholder outreach, IR profes- sionals may need to specifically state which topics they would like to discuss with investors rather than leaving it up to investors to raise topics proactively. Always top-of-mind for everyone in IR is the
current state of the job market. To address this topic, Peter McDermott, Senior Client Partner, Global Corporate Affairs & Investor Relations at Korn Ferry, captivated the room with his perspectives. He touched upon the dynamics recruiters and job seekers are experiencing, such as shifts in can-
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