News Release

Cheryl Gustitus Brings Decades-Long Corporate Governance and ESG Industry Experience as Glass Lewis' New Chief Strategy Officer

SAN FRANCISCO (March 6, 2023)  Glass Lewis announced today that Cheryl Gustitus, a long-time corporate governance and ESG industry executive, has joined the firm as its Chief Strategy Officer, a newly created leadership role intended to drive accelerated growth. Acquired by Toronto-based Peloton Capital Management (PCM) and its co-founder Stephen Smith in 2021, Glass Lewis has been strengthening its management team to compete more aggressively in the ever-evolving corporate governance and ESG data space.

Since its founding in 2003, the company has been a leading global provider of proxy voting and corporate governance research, data and analytics relied upon by institutional asset managers, pension funds and corporate issuers worldwide. In this role, Gustitus will guide Glass Lewis strategic initiatives, including elevating the firm's global brand, improving its market position, expanding its product suite and accelerating the firm's growth.

Cheryl's extensive experience and considered approach to corporate strategy will help us better serve our existing and future clients, expand further into global markets, and drive us to compete at a whole new level, said Kevin Cameron, Glass Lewis Co-Founder and Executive Chairman. She has a proven track record of igniting growth and is an exceptional leader with deep expertise in marketing and strategy. "I am thrilled to be joining this exceptional team at a time when the need for high quality corporate governance, ESG and related business insights that support decision-making have never been more important to investors and companies alike", said Gustitus.

In fact, Glass Lewis has been moving to expand its presence among European investors and companies. In December, the firm acquired corporate governance and voting advisory firm Proxinvest, cementing a leadership position in the strategically important French market.

About Glass Lewis:  

Glass Lewis is the leading provider of independent global governance solutions. We enable institutional investors and publicly listed companies to make informed decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets. Our customers include the majority of the world's largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets. Our core solutions include Proxy Paper proxy research and Viewpoint proxy vote management platform. More information is available at www.glasslewis.com.

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Glass Lewis announces the acquisition of French proxy advisory firm Proxinvest as it continues its geographic expansion and demonstrates increased commitment to its growing client base in the European market.    

SAN FRANCISCO AND PARIS (December 1, 2022)  Glass Lewis is excited to announce the acquisition of French proxy advisory firm Proxinvest, effective December 1, 2022. Founded in 1995, Proxinvest is the only French voting advisory agency, offering coverage of French and European companies to investors. Glass Lewis has been focused on geographic expansion and the Proxinvest acquisition marks another step toward strengthening its presence in the European market. Acquiring Proxinvest will allow Glass Lewis to better serve both the European institutional and corporate markets.

There is an immediate benefit to existing Proxinvest clients as the sale facilitates access to additional Glass Lewis products and services such as Proxy Paper research reports, the Viewpoint voting platform, and the newly launched active ownership-focused SaaS Engagement Management Platform. The acquisition allows Glass Lewis to continue positive brand momentum in the European market, following the acquisition of Spanish proxy firm Alembeeks clients.

Alain Demarolle, Chairman of the Board and Charles Pinel, CEO of Proxinvest said, We hold in high regard Glass Lewis, already our partner in certain areas. We know Glass Lewis will fully protect the independence of our distinctive research and the whole Proxinvest team is excited to now join forces.  

Proxinvest's proxy voting policy is developed in alignment with the unique perspectives of their French clients. Glass Lewis is committed to maintaining this policy and will continue to offer it in French to serve the needs of the region. Glass Lewis has completed several successful geographically focused acquisitions in the past, such as the German firm IVOX, with a demonstrated track record of meeting the needs of local clients.  

I am delighted to welcome Proxinvest to the growing Glass Lewis family, said Kevin Cameron, Co-Founder of Glass Lewis. Proxinvest is a leader in the proxy research space in France and their clients extend across Europe. They are highly respected for their proxy research which we will continue to offer in the French language to meet the needs of the market. I am particularly excited to offer our ever-expanding suite of solutions to Proxinvest's clients, including our newest SaaS solution, the Engagement Management Platform, which will help investors better manage their ESG initiatives.

Proxinvest will become a wholly-owned subsidiary of Glass Lewis and clients can continue to expect the highest level of service without any disruption.

To view the press release in French, please click here.

About Glass Lewis:  

Glass Lewis is the leading provider of independent global governance solutions. We enable institutional investors and publicly listed companies to make informed decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets. Our customers include the majority of the world's largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets. Our core solutions include Proxy Paper proxy research and Viewpoint proxy vote management platform. More information is available at www.glasslewis.com.

About Proxinvest:  

Founded in 1995, Proxinvest is the only French voting advisory agency or proxy advisor specialized in matters related to general meetings, corporate governance and shareholder engagement. Proxinvest advises on shareholder engagement policy and assists investors in exercising their voting rights at general meetings of listed companies. Proxinvest also offers its clients alerts and analysis on corporate governance of companies. Proxinvest offers coverage of the main European Stoxx indexes (MSCI Europe, FTSE Eurofirst 300, Stoxx Europe 50) and every European company on demand. Proxinvest has been collecting data relating to the governance of listed companies for over 20 years. For more information, please visit www.proxinvest.com.

Dennis Johnson, CFA, former Chief Investment Officer at TIAA and Comerica Bank, joins the Board of Directors at Glass Lewis, global leader in ESG and Proxy Voting solutions.

SAN FRANCISCO (June 7, 2022)  Glass Lewis today announced the addition of Dennis Johnson to the Board of Directors. Dennis brings deep expertise setting and implementing strategy developed over his many years as a global investment professional and board member. We are delighted to welcome Dennis Johnson to the Glass Lewis Board of Directors, stated Stephen Smith, Chairman of Glass Lewis and Chairman of Peloton Capital Management. Dennis possesses a significant level of experience in leading investment organizations, therefore he has an intimate understanding of key stakeholders in the capital markets. We look forward to leveraging his unique background as we continue to expand our Glass Lewis presence across the globe. As the Chief Investment Officer for TIAA, FSB and TIAA Endowment & Philanthropic Services (TEPS), Dennis oversaw $190 billion in assets under advisement and $62 billion in discretionary assets. At Comerica Bank, Dennis served as Chief Investment Officer, where he was responsible for $140 billion in assets under advisement, and as Chairman of the Comerica Investment Policy Committee. Dennis also served as Chief Strategy Officer at the Public Investment Fund (PIF) based in Saudi Arabia, Senior Portfolio Manager of Global Equity at the California Public Employees Retirement System (CalPERS) and a Managing Director at Citigroup.Dennis has led and built international teams of investments, compliance, risk management, client facing and operations professionals throughout his career. His experience includes the development and implementation of investment policy statements and procedures. Dennis has served on numerous committees focused on investment, risk, compliance, and sustainability. He is a former U.S. Military Officer and graduate of the Virginia Military Institute. He also served on U.S. Department of the Treasury's Advisory Committee on the Auditing Profession.For more information, send an inquiry to info@glasslewis.com.

‍About Peloton Capital Management:

‍Peloton Capital Management is a private equity firm that utilizes a long-term investment philosophy and sector-focused strategy to partner with founders and management teams to help build exceptional businesses and create attractive returns for our investors. PCM's primary focus is investing in services businesses within the Healthcare, Financial, and Consumer verticals in North America. Headquartered in Toronto, Canada, PCM was founded and is led by a team with extensive private equity experience. For more information please visit: www.PelotonCapitalManagement.com.

About Glass Lewis:

Glass Lewis is the leading provider of independent global governance solutions. We enable institutional investors and publicly listed companies to make sustainable decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets. Our customers include the majority of the world's largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets. Our core solutions include Proxy Paper proxy research and Viewpoint proxy vote management platform. More information is available at www.GlassLewis.com.

Global public company data points from the new Glass Lewis ESG Data Feed can be used by investors for ESG models, scoring, investing decisions, and proxy voting decisions

SAN FRANCISCO (June 15, 2022)  Glass Lewis today announced the launch of ESG Data Feed. Through the ESG Data Feed solution, investors can now directly access the same ESG data that Glass Lewis uses in its Proxy Paper ESG Profile Page. The data is collected and made available near public company annual shareholder meetings in order to ensure investors timely access to both summaries of public company ESG performance and insight into specific data points. The new solution enables investors to conduct their own internal analysis, including the creation of ESG models, scoring, investing decisions, and proxy voting decisions. Institutional investors and public companies around the world rely on Glass Lewis research and shareholder vote recommendations to make sound stewardship decisions. The launch of the ESG Data Feed solution follows the launch of the Glass Lewis ESG Profile which provides a snapshot view in Proxy Paper research reports of key topics such as companies' emission reduction initiatives and the disclosures they provide concerning their environmental and social risks and performance. The data is aggregated and collected by Glass Lewis research analysts, and the ESG scoring methodology is owned by Glass Lewis, therefore investors can also use the underlying data and scoring in their custom proxy voting policies. "Our clients have increasingly been looking for access to timely, accurate, and understandable ESG data that they can use in their proxy voting, engagement, and other investment decisions. Although we have been collecting information concerning companies' ESG risks and opportunities since our inception as an organization, the ESG Profile and ESG Data Feed solution allow clients a much more customizable and accessible way to use this information, explained Courteney Keatinge, Senior Director, ESG Research at Glass Lewis. This data, which is collected within approximately 30 days of a company's AGM and is subject to company validation through the Issuer Data Report service, allows our clients to leverage it in their own internal analyses and advance their stewardship programs." The data collected includes data points associated with Board Accountability, ESG Transparency, ESG Targets, and Alignments, and, for certain companies, Climate Risk Mitigation. Covered public companies will have the opportunity to verify their ESG data through Glass Lewis' Issuer Data Report program. For more information on the specific data points, please see our methodology document here. For more information, visit the ESG Data Feed solution page or send an inquiry to info@glasslewis.com.

About Glass Lewis:

Glass Lewis is the leading provider of independent global governance solutions. We enable institutional investors and publicly listed companies to make sustainable decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets. Our customers include the majority of the world's largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets. Our core solutions include Proxy Paper proxy research and Viewpoint proxy vote management platform. More information is available at www.GlassLewis.com.

Glass Lewis announces the launch of the Engagement Management Platform, enabling investors to centralize active ownership engagement and proxy voting data to better manage and meet ESG goals across their portfolios.

SAN FRANCISCO (October 25, 2022)  Glass Lewis today announced the launch of the Engagement Management Platform, a software solution that enables institutional investors stewardship teams to record, track, and report on their engagement activities. Through the platform, Glass Lewis clients can prioritize ESG issues, optimize their engagement processes, and automatically report on the progress, and efficacy of their engagement programs. Glass Lewis is a global provider of governance solutions including proxy research and voting technology. The launch of the Engagement Management Platform augments a powerful ecosystem of Glass Lewis active ownership resources including the Engagement Solution where investors can leverage the 1,000+ meetings conducted across 40+ global markets by Glass Lewis experts, Controversy Alerts that are delivered directly to clients to keep them informed about the most controversial AGM issues, Engagement Letter Writing to create and deliver communications to issuers on your behalf, and Proxy Paper research reports that are foundational to ensuring investors receive thorough details about vote recommendations. The cloud-based SaaS solution allows users to centralize stewardship engagement data and proxy voting records so that they can more efficiently manage their stewardship programs. Data visualization also enables users and other key stakeholders to easily review and report on the progress of their engagement programs. The Engagement Management Platform needs to be the standardized place to manage and drive toward ESG goals for any investor serious about their stewardship program, said Dan Concannon, Chief Commercial Officer at Glass Lewis. We found that too many investors were struggling with spreadsheets to gather and organize their engagement data. Our platform not only allows engagement information to be better organized and accessible by internal teams, but it also surfaces insights to improve stewardship goal-setting and decision-making. As part of the Glass Lewis suite of Active Ownership solutions, the platform serves as a critical component to ensure investor stewardship efforts yield results. With the new platform, investors will be able to:

• Record outcome-driven engagements, internally or externally managed, and track progress towards goals
• Centralize all engagement meetings, dates, participants, and notes
• Link proxy voting and engagement records to consolidate reporting efforts

The platform is powered by Esgaia and built specifically for the management of corporate issuer engagement processes. Clients can customize the platform to meet their engagement needs through system integrations, custom fields, user-managed roles and permissions, and the ability to invite external parties to collaborate. For more information, visit the Engagement Management Platform page or send an inquiry to info@glasslewis.com. About Glass Lewis: Glass Lewis is the leading provider of independent global governance solutions. We enable institutional investors and publicly listed companies to make sustainable decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets. Our customers include the majority of the world's largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets. Our core solutions include Proxy Paper proxy research and Viewpoint proxy vote management platform. More information is available at www.glasslewis.com. You can also visit the Glass Lewis Blog or follow us on LinkedIn.

‍About Esgaia:

‍Esgaia is a technology company providing an independent purpose-built engagement management software to institutional investors globally. The platform helps investors save time and improve quality by centralizing engagement management in a cloud-based environment.

In its new solution, ESG data is aggregated by Glass Lewis near a public company's annual general meeting date, providing institutional investors the timeliest data of its kind in the marketplace

SAN FRANCISCO (February 7, 2022)  Glass Lewis today announced the launch of ESG scores and data featured in their Proxy Paper research reports via a dedicated ESG Profile page. Institutional investors and public companies around the world rely on Glass Lewis research and shareholder vote recommendations to make sound governance decisions. While ESG themes have long been covered in Glass Lewis research, the ESG Profile provides a snapshot view of key topics such as companies' emission reduction initiatives and the disclosures they provide concerning their environmental and social risks and performance. The data is collected near a public company's annual general meeting date, providing institutional investors the timeliest data of its kind in the marketplace. Since the data is aggregated by Glass Lewis, and the ESG scoring methodology is owned by Glass Lewis, investors can use the underlying data and scoring in their custom policies (as an additional option). We are seeing a rise in various types of ESG data in the market, however Glass Lewis is the only company collecting information relevant to proxy voting so close to annual general meetings, said Eric Shostal, SVP Research and Engagement. We are known for delivering our reports with industry leading lead times, allowing our investors more time to carefully evaluate and incorporate our data, research, and recommendations into their stewardship programs. With the launch of the ESG Profile in our research reports, our aim is to provide a look at critical issues that are top of mind for both investors and public companies. Updated proposal specific ESG data is provided to shareholders and to public companies in advance of their annual general meeting allowing for voting decisions and engagement to occur with timely data and research specific to agenda items. Glass Lewis has favored a clear and approachable methodology to give investors a more transparent understanding of how public companies are being scored. The timely score summary includes a Board Accountability Score, an ESG Transparency Score, an ESG Targets and Alignments Score, and, for certain companies, a Climate Risk Mitigation Score. Covered public companies will have the opportunity to verify their ESG data through Glass Lewis' Issuer Data Report program. For more information, visit the ESG Profile product page or send an inquiry to info@glasslewis.com.

About Glass Lewis:

Glass Lewis is the leading provider of independent global governance solutions. We enable institutional investors and publicly listed companies to make sustainable decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets. Our customers include the majority of the world's largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets. Our core solutions include Proxy Paper proxy research and Viewpoint proxy vote management platform. More information is available at www.GlassLewis.com.

Public companies can leverage the Cybersecurity Risk Evaluation Solution from Glass Lewis and BitSight to better understand key areas of vulnerability, benchmark against their peers, and receive personalized guidance from a cybersecurity expert.

‍SAN FRANCISCO (September 21, 2022)  Glass Lewis and BitSight today announced the launch of the Cybersecurity Risk Evaluation Solution for public companies. The solution provides customized guidance and reports so corporations can understand best practice in cybersecurity assurance and disclosure, benchmark their company's cybersecurity performance relative to peer organizations, and evaluate the potential financial impact of cyber events on their own organizations. Cybersecurity is a critical business risk that directly impacts a company's ability to achieve operational success, said John Nelson, senior vice president of global channels and partnerships at BitSight. As cyber-attacks continue to rise, we are launching the Cybersecurity Risk Evaluation Solution with Glass Lewis to enable public companies to pro-actively understand their own vulnerabilities, implement strategies to safeguard their business, and communicate their plans to internal and external stakeholders. Investors are increasingly expecting public company leaders to implement transparency around the oversight and management of cyber risk and assure key stakeholders that they are implementing best-in-class cybersecurity programs in order to mitigate the likelihood of costly and potentially debilitating cyber-attacks. The SEC also recently called for a more unified approach to cybersecurity risk management, strategy, governance, and incident disclosure by public companies. We understand mitigating cybersecurity risk is top of mind for corporate executives, said Lili Mehta, SVP and Global Head of Corporate Business at Glass Lewis. In response to this pressing need, we have partnered with BitSight, the global leader in cyber risk management, to provide a solution that equips public company leadership with the tools to understand their performance in key areas, benchmark against their peers, and better communicate their cybersecurity positions. Public companies who subscribe to the Cybersecurity Risk Evaluation Solution through Glass Lewis will receive customized analysis covering an overview of their performance, peer analytics benchmarking, and financial quantification of their exposure due to cyber risk, all using BitSight's proprietary technology. In addition, a BitSight cyber risk expert will conduct an intensive workshop to provide clients with an overview of the current regulatory environment including disclosure requirements, best practices as it relates to cyber program disclosure and positioning, and a personalized walk-through of issues such as credit ratings impact and cyber insurance approval/denial. For more information, visit the Cybersecurity Risk Evaluation Solution page or send an inquiry to engage@glasslewis.com.

‍About Glass Lewis:

Glass Lewis is the leading provider of independent global governance solutions. We enable institutional investors and publicly listed companies to make sustainable decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets. Our customers include the majority of the world's largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets. Our core solutions include Proxy Paper proxy research and Viewpoint proxy vote management platform. More information is available at www.glasslewis.com. You can also visit the Glass Lewis Blog or follow us on LinkedIn. About BitSight BitSight creates trust in the digital economy and transforms how organizations manage cyber risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help organizations manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct financial diligence; and assess aggregate risk. With the largest ecosystem of users and information, BitSight is the Standard in Security Ratings. For more information, please visit www.bitsight.com, read our blog or follow @BitSight on Twitter.