Several of the world’s biggest money managers will push for a ban on dual-class shares, as part of a slew of corporate-governance practices they agreed to endorse. The campaign, announced Tuesday, will turn up the heat on many U.S. companies at a time of increased shareholder activism. The coalition’s 16 members manage more than $17 trillion in assets. The...
A coalition of some of the world ’s largest asset managers is to call for a ban on dual - class shares as part of efforts to improve corporate governance . The Investor Stewardship Group , announced on Tuesday , contains 17 members , including Vanguard , State Street and Vanguard . The group manages a total of over $ 17tn in assets . The move comes at a time when shareholder activism is increasing . Dual - class shares tend to grant super voting power to specific shareholders , prompting complaints that they limit the power of shareholders in general . The group has also called for board members to be elected annually by shareholders .