In another example, in Britain, Vanguard said it declined to back a shareholder resolution at Barclays aimed at pushing the bank to phase out financial activities in the energy and utilities sectors. "How we evaluate nuance is really important and certainly outstrips other concerns," Galloway said in a telephone interview. But he is more concerned about making Vanguard's views transparent to its clients, as many votes are decided for subtle reasons. John Galloway, whom Vanguard will name as its new head of stewardship on Tuesday, said an argument to keep the talks behind closed doors would be to have more candid conversations with company executives. But like other fund firms lately, Vanguard has begun to disclose more details about its reasoning behind specific proxy votes on topics like director elections, social issues or climate policies. ![]() ![]() Vanguard also opposed Alphabet's executive pay in prior years. ![]() An Alphabet spokeswoman declined to comment on Vanguard's votes. In an advisory ballot at Alphabet's annual meeting in June 25% of votes cast were "against" the pay. ![]() Vanguard said in the report it "found a misalignment between pay and performance" and would have liked to see more long-term compensation tied to metrics like relative total shareholder return.
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