CCGG was pleased to see the release on January 26, 2021 of the Ontario Court of Appeal decision in Baylin vs. Gelerman. CCGG was granted given leave to intervene in this important case dealing with the TSX’s majority voting policy. The application to intervene is part of CCGG’s continued advocacy on behalf of our members for majority voting as a fundamental means to ensure effective shareholder democracy and hold directors accountable. The Court acknowledged CCGG’s position that the narrower the exceptional circumstances exception is made in a majority voting policy, the more it promotes the purpose of such policies, which is to hold directors accountable to shareholders. The Court’s recognition of CCGG’s policy position in the body of its reasons enhances the credibility of that position and helps to promote its acceptance more broadly.
To review the Baylin vs. Gelerman decision please visit this link: https://bit.ly/3t4BHDE
To review CCGG Majority Voting Policy visit this link: https://bit.ly/3cgkj9b