Transcript
This is proxy countdown. Welcome to the Big Show for the week of July. 29 2024 alongside my tag team partner, Matt mascardi. I'm Damian roles on today's countdown, Boeing makes a decision. The Tisch family plays, nepo musical, chairs at Lowe's, Howard Schultz is polishing his boomerang at Starbucks. And existential crisis at Autodesk and on the big boat, our first annual award show spectacular, matte, we have 17,000 Awards to hand out. I can't wait. It's so many people to thank for this year. Actually, we have lots of good Awards. Stay tuned for that. The end of the show. Let me cover the news somewhere briefly this week before we get off hand off to our award show. Just a highlight. Just like the most important stories first Boeing. Taps Aerospace veteran, Robert Kelly, ortberg Kelly or Borg, that's his name to replace, Dev Calhoun a CEO. He was most recently, this special advisor to the office of chair and CEO at United Tech, whatever that means previously CEO at Collins Aerospace and Rockwell Collins showing he's serious. Matt Kelly has just resigned from the board of RTX Corporation. Now, I take him, seriously, Sapphire cats stepped down at the Walt Disney Company on the board. Step down a more suffocate. Shareholders voted to remove Deepak raghavan at Manhattan Associates. 2024 a gym in May and on July 8th. The board accepted his recognition. They actually letting him go. It took him a little while overly doing took over two months. Barry Diller, Alexis Herman, and Mark Boland all resigned from the board of the Coca-Cola Company. Unusual to see three at once there. A service now. Weird story at service. Now, Okay. CEO know some sorry c o o c j desire came to a mutual agreement with the company that Mr. Desai would. Resign from all positions with the company. Okay? Okay this was after an internal investigation, prompted by a complaint Where the board determined that the size hiring? Of the Chief Information officer of the US Army as the company's head of global public sector violated company policy. Okay, so he violated company policy, okay? When he hired this man, but because CJ Desai maintains that he did not intentionally. Violate company policy. He will receive a severance package including all in paid salary. In bonus Severance of another six months of salary and bonus, Health Care, blah, blah, blah blah. So, there you go. Because he intentionally, he died. I did it on purpose and because he didn't say that. He gets a 17, he gets paid. And finally, at Lowe's the Tisch, family generational, nepo Handover has begun. Hold on your tissue hat for this one. If you have a Tish hat James ordered one. James S Tish will step down as CEO but stay on his board chair. Obviously his brothers, Andrew H, Tisch, and Jonathan Mitch. It's so the reason why I'm using middle initials here, is that when you have so many family members, some of them with the same name, the middle initial actually becomes relevant. You actually have to know them. Yeah, they're gonna retire as co-chairs but will remain lurking as a director emeritus. Director Emeritus. That's when you sit back the room. Yes. And you drink the coffee. You have the bagel. Maybe even At a table but you just don't technically get a vote. That okay, Jonathan Amish will also retire as president, but remain as executive chair as subsidiary Lowe's hotel's. Okay? The new CEO will be James's son. That's right. His son Benjamin. J Tish James. Also Andrew's son, Alexander will join the board with the new CEO. His first cousin so that was going on. I think run out of executive positions at some point. Let's move on to our proxy cage matches. We have three to highlight first Starbucks ex CEO and founder. Howard Schultz. Is said to be opposing a potential settlement with activist investor Elliott management. After it was reported the Elliot has built a significant stake in Starbucks. You wonder is this opening the door for another return? I didn't think it was gonna happen but could could we see Howard Schultz Boomerang back again. Well we're over the Dei hump and the labor hump that he didn't like right. So now now we're on the the other side of that. So now we can just go back to Opposing activists, and whatever it is. Howard Schultz wants to do with his boomerang. Activists in Western Nelson Peltz his back this time. He's targeting solvent him, which actually might be the perfect Target. For Pelt, who is infamously, anti-walk, receptacle about women and people of color. As the Sullivan so bored. Is 11 members, including six women in two black men. Perfect. Yeah, but they weren't in Marvel movies, were they? Yeah. Let me give you. The quote that Matt is referring to there. This is what Nelson Peltz said. About Marvel movies. Why do I have to have a Marvel? That's all women. Not that I have anything against women. But why do I have to do that? Why can't I have Marvels that are both? Why do I need an all black cast? He was referring to the movie Black Panther this one of Marvel's most successful movies ever. Yeah this is his chance at soul ventum to change the female black cast members. And finally here there's this headline from our proxy cage matches, two little too late activist. Investor Elliot remains unimpressed with South West plan to eliminate open seating. They don't care. all right, I mean unimpressed isn't isn't opposed to it. They're just shrugging. Let's move over to her vote results table. There's still some proxy boats coming in. Nothing remarkable going on at VF, Advanced Drainage Systems booze out and constellation Branson Brown Foreman, although I was excited to learn that there is a large cap company called Advanced Drainage Systems Yeah, which did they have? Did they upgrade the name every time they go up? You know, from small to Mid cap, mid to large to me. It's just refers to the fact that they've they're doing something better than gravity because when I think of drainage, I just think of gravity. And and finally, there's an existential battle going on an Autodesk where shareholders passed both ends of the special meeting coin. So Management's proposal, which would allow stockholders holding 25% or more of the voting power to call special meetings, passed as well as a competing shareholders, proposal to let stockholders holding 15% or more of the company's stock to call a special meeting. So what are we gonna do here, man? You think we'll just settle on 20 and get it over with. You know, this actually says something about who's voting on these things more than anything. Did they read any of this? Like pick one? Pick one day. I mean, they just were like, we like both of those so vote for all of them. And now, what do they do? That's bananas. Finally, that's it. Let's Matt, we have so many awards. Let's segue over to our huge big award. Show you ready for this? Deep breath. Yes, Awards. The 2024 review proxy countdown Awards. I'll remind all of our audience that well, Matt. And I seemed like, People, we actually put a great amount of effort and time into all of the what we do here, including these rewards. I mean, for my Awards, what I did is I looked at every single show document from the past year, and I picked out the best out of my three categories that I cover, which is top stories, proxy cage matches and and voting proxy voting results. So I'm excited to present these to you. I did more standardized Awards in, as much as I picked top directors of the year and top Boards of the year, which exists there are actually a few organizations that give out actual Awards. So we're joining in that game, but we're actually using data, we're not going to do the thing where we pick somebody and we're just like, you're cool. You win an award this year, or have you submit your own nomination. This is all a data driven award show. So, for the analysis, ISS, Hi, it's just so I can't be. I can't start analysis team. So we're going to have some director and board Awards. Let's do it. Hey, go start with top stories. I think these are I wrote These for you. Matt, I wanted you to feel good about life. Best new director to trigger the anti-woke. Like this already, that's Sylvia Davila, at FedEx Corporation, according to FedEx's, press release. Sylvia brings vast experience, promoting diversity and inclusion, and leveraging Innovation for ESG. Agendas Matt, this is the perfect anti-walk director ever stop right there because someone needs to tell me what an ESG agenda is most famous director step down. Sheryl Sandberg at meta platform. Wow. It was good. Best new dude director. That would be the Rock at TQ. Remember the rock. He's in our database. Now, he is in our database now and that makes me very happy. Oh, I don't know. For those of you who use our platform at free flow, analytics.com, I'm actually not sure. Can you search the rock or do you have to put in his stupid real? I'm sorry, you have to put in Dwayne, that's terrible. Whoever developed this database sucks, all right. Best new throwback director higher. As a result of 0 company oversight, is that make sense? You understand that one? Day they do. Just yeah. Just give me the answer. Appoints John Arnold a former day trader at Enron. Yeah, who heavily profited as the company was collapsing? And then meta immediately, assigns him to its audit and risk oversight committee. That's because there is no oversight at metaplatfor, so they can get whoever they want. You know, I was just doing a where are they now? So we've been working on some other bits for other shows and things. And I was doing, where are they now? And looking at Old Enron board members, most of them don't have jobs, but I did find a Lehman Brothers director, who is on the financing risk Committee of US Bank Corp. So um, this is this, hopefully this becomes a growing Trend in which we forget the names of the people who sang companies like, when you're the names in the first place, Best Director dance. This is by far my favorite category. That's Superior. Energy Services. Okay, first Julie, Robertson resigned, three days later shareholders elected. Ian Foster to fill the vacancy created by the resignation of Julie Robertson against. This is their words, okay? Then Timothy windfree resigned and shareholders elected. Julie Robertson to fill the vacancy created by the resignation of Timothy Winfrey. See what they did there. I do, I did spinning. I don't even know what happened. I can't even do the math there. when you calculate her tenure, which tenure do you calculate biggest shock in Fair pay practices. Okay biggest shock and fair. Pay practices microchip, technology reduced salaries, for its CEO Nos and board members by 20% to match other expense reduction actions at the company. Incredible. Wow wow. Does that include their options? And when I say best Fair pay practices, that'll be the only, the only one of its kind in the entire tradable. Universe. Best call that fare adjacent Farah, Jason best non-retirement retirement, okay? Best non-retirement retirement after lesson, two years of board service, just seemed toe Hernandez stepping down from the board at Altria Group in connection with his retirement, Hernandez will provide strategic advisory services to Altria for a period of five years, an annual consulting fee of 300,000 dollars. Five years, one point, five million. So you retired over the five-year period. Are you retired now? And that's very confusing. He still there. How about this? One best perk for beat for being a glass. Cliff CEO being pushed out by an inpatient. Boomerang founder got that one. Got it now her. Oh, I like perks. That would be Stephanie. Leonard, who got pushed out of Under Armour after 13. Months. By Kevin plank, her best perk is Uh, they're going to pay the remaining rent on her apartment lease in Baltimore. The great perk. Best stupid and pointless resignation. Okay. Boeing's. Dave Calhoun. Who are who according to the language, the company. He decided to step down to CEO at the end of 2024, he decided, yeah, yeah, he did decide that. And I like that, he decided to do it nine months after he actually decided best pointless fake company moment. Tyson Foods, waves, retirement age, for director, Barbara Tyson. Down because the Stevens are a trust and trusts need busting. Warner Brothers Discovery is losing two directors. Named Steven Myron is Steven Newhouse because the company learned about a Justice Department investigation into whether the Stephen's presence on the board of violated Anti-Trust, law, I am not sure. It wasn't just a one of us. Stevens on the board best Char holder oversight is a joke moment. This is, oh, this is this is the hardest one to fight. So, Kenny Wilson stepped down, as CEO, and director of jbeil. Following the completion of an internal investigation related to corporate policies. A jabil, spokesperson said, in order to respect the privacy and confidentiality of the individuals involved, we will not be speaking about the details of the investigation or the results. So Kenny is required to assist to be an event of certain legal proceedings and for violating those policies where he'll need to be available for to, you know, to assist and legal proceedings. They're going to give them 2 million dollars in cash and Antony 24 Equity. That is the most expensive. Shut up that I've ever seen best new CFO named Butch. Was this a long category of potential that would be Butch? Orlog Junior, new CFO, Raymond James Financial That's pointless. Non-democratic demotion as the result of an internal audit committee investigation? I think this is one of your favorite. Yeah, I love a good audit, committee investigation. Deborah Clifford transition from her previous position, as Chief Financial Officer to her new role. As chief. Strategy officer. Yeah, that's right. That was Accenture, right. Was that Accenture? Is that who that was? I would know the name of that. Yeah. I love this story because I love when you can find the person who is responsible for something negative happening and you put them in a in a position to have slightly more power than they did before as the demotion and finally my favorite top story in 2024 so far happened at veeva systems. First this this great tidbit on the recommendation of a special subcommittee of the compensation committee. That's right. A special subcommittee. And we're talking about a community of three people. So, yeah, I guess he's probably one of them CEO and founder. Peter gastro was granted 2.6 Billion premium price Performance, Based stock options, outside of the scope of the companies competition plan. How about that first special subcommittee of the competition? Incredible? I yeah, that is a subcommittee that he was happy about though. And then there's this, a majority of shareholders voted no on director Paul sekri. But the board's decision to not accept Mr. Secretary's, resignation was based in part on Mr. Secretary's extensive board experience. Okay. Yeah, and why were the shareholders pissed in the first place? Because of his extensive board experience. That's why they've in addition to serving it veeva systems, he currently serves at vtv Therapeutics longboard Pharmaceuticals, compute, Gene, adhered text spring Discovery in Genesis, I love that. I just love this. I love that they voted against him because he's on too many boards and in the board, they kept him because he's let's go over to the proxy cage matches Awards. Okay. Oh my God, there's so many. Oh, there's so many is so many greatest proxy, cage, Rumble, overall, that would be Disney. Of course, that three-way fight. Bob Iger versus basically versus Tryon, which is Nelson versus Blackwells. Who are actually Pro. I grew it was crazy mess. That's the best best evil proxy cage match. That would be, of course, on mobile who sued their own shareholders are Juneau capital and follow this to kill a proposed shareholder resolution. Best boring quote from a proxy cage match filing. Here's the quote. All references to proposals, five, six and eight eighty pages, 626.33. And 35 of the try and group's proxy statement are amended and restated as follows proposals five, six, seven, eight, and ten. That's how stupid that proxy like I was playing the game there and tracing back that and yeah. Best full-on. We hate you all proxy cage. Match, Ankara Holdings, remember them. They had, they said they were proposing replacing all of Norfolk, Southern's taught managing management, including at CEO and CEO. And they nominated eight directors to the railroad operators report that it doesn't get more. I hate everything. You're doing than that. Best Revelation from a proxy cage. Match, is something that we dug out here at the free flow. I'm calling. This The Strange Case of Dr. Jones and Mr. Jones. Yeah Norfolk Southern's new safety committee chair, Kris, Jones. First of all, he did not have a check mark next to his name for environmental and safety skill in 2023, but he did have the check mark next to his name for safety in 2024. But then the mystery deepened, well, Jones is bio included. No mention of the word safety in 2023 and referred to him as Mr. Jones, his bio in 2024 suddenly refers to him as Dr. Jones And mentions the word safety 15 times. I just know the worst part. The worst part about this story is by all accounts. Joan. Chris Jones actually has safety experience and did get a doctorate. So it's I think they maybe they were dissing him last year and not this year, but the whole thing is strange, best stupid proxy cage match analysis, this is from ISS in the Disney fight, they said that they backed Nelson Peltz because Nelson, quote could be added to the succession process. That is where the analysis came lands. Could the aforementioned Nelson Peltz. I actually already said this. Quote, best massage in racist, quote, from a park cage match. That's Nelson's, comment about having too many black people and women of massaging and racism is really that's that's a that's a that's a difficult feat and finally my favorite from proxy cage matches, best accidental Pathway to binding. Vote at shareholder meetings, understand the best accidental Pathway to binding, vote, at all, shareholder meetings. In exons. Extremely whiny letter to Glass Lewis, it said quote For shareholder democracy to be real. A no needs to mean. No. Right. This is opening not opening the future to binding resolutions at shorter because the obviously means that a yes must mean a? Yes. I like that. That was the only line in that letter I enjoyed. And finally, let me try to wrap this up quickly. I know, Matt's falling asleep. These are my awards from the, from the votes, from the proxy votes. First of all, best to share, owning boss, move moment, dude, whatever. At polished.com a proxy contest by a single investor with two shares. Gerald Hammond. He tried to get himself on the board it failed, but I but hats off to Gerald for trying. He you know what, he actually got 20% of the vote. 20% two shares. I'm gonna announce this right now. On this show we own 10 shares of fubo TV, And I want to be on that board. I want you to be on that board so Gerald good reach out to you. To ask how you got 20% of the vote because credible, we have a plan. Well we have a plan to do the math. You, he had two votes and got 20%. You have 10 votes. You should get 100% of the vote. I just Say on pay failure goes to JetBlue 76% of shareholders said no on pay best smart shareholders. This is my only positive statement of the whole world show at Jefferies Financial Group, 29% of the boat rejected to say on pay and at the same time the entire competition committee also received over 20% vote against their election. The only aligned. Hey, that's nice alignment. Best board, that doesn't care what you think a majority of shareholders at Liberty Energy said no to direct her can Babcock the board. However, said that Mr. Babcock will remain because it is in the best interest of stockholders. Oh well. It's almost like getting on too many boards and then keeping them for keeping on too many boards. The best shareholder proposal of the season was easy. That's that's all the simple majority vote, share Liverpool's they a lot of wins from simple, majority of the year for John Chavez and Jim mcritchie. Maybe you'll disagree with this one map, but my award for the stupidest shareholder vote 2024 has to be 77% of Childers saying yes to Dave Calhoun at Boeing. That's the most contentious award given at. That's the one that's the snub award for the year because you had Kimball musk. Yeah. The musk. Hey, there were so many contentious votes that I could have put their most surprising. Sure, holder proposal win. So far in 2024 at Wingstop. Are proposal by the accountability board. Requesting a greenhouse gas emissions report received the support of 52% of the vote. How did that happen? What's going on a Wingstop? Who are these shares? Just you know, what the fact is there's a lot of gas coming out of Wingstop. Apparently, best example of why analyzing the shareholder democracy is so damn confusing. Despite all the successes with simple majority voting so far in 2024. I mean, Matt, we had votes of simple majority of the past in the 90s, Yeah, at Thermo Fisher. Only 7% said yes. What? Yeah, it's I I think it's that I think they skipped that proposal when they were trying to skim it. And finally, the most surprising result of a shareholder vote against directors, in 2024, what resulted in a resignation at Kirkland, Stephen Collins and Wilson or the third were voted out and they actually left. That's it. That's those are Myer Ward so far. Nice for 2024, Matt. I'm excited to hear. Let's go for some direct or awards. Are you ready for some directors? Yes. All right, here is, these are all non-executive directors, and I'm focusing on directors for the most part that are on three or more boards and have some influence on those boards. These are powerful people, I don't want to do like the riffraff. Like, you know, you got you joined Mark Zuckerberg's board? Congratulations, no one cares. So here's the knot executive director Awards, best league one and two. TSR performance award because now the league one and two are the small micro mid cap companies. Right? Three and four. You Is as our large cap and mega cab companies. These are small-time, directors, lots of small-time, boards best TSR performance goes to Julie. Dill, who's on the Sterling infrastructure board, which is 11% influence there in the Reign year, Advanced Materials board 16% influence. She's a Hall of Famer in our data. She's on three boards in our database, she bats 920 on TSR over the last five years 920 if shareholders want somebody who knows how to give them money. Basically print money follow Julie Dil around on the small cabinet World. She's a draft Target for the large caps too. I think Best league, three and four performance. Okay, these are the big, these are the big dogs. These are large cap, make a cap companies. The winner goes though. The award goes to Beth prisoner. Beth another woman. Elf Beauty board, 13% influence there. She's on three boards in our database. She's a Hall of Famer all. So she bets get this 818 TSR wow, 759 earnings. Meaning just think of it this way she's in the 80th percentile every board. She's been on is in the 80th percentile for returning, value to shareholders, and they earn a ton of money. They're in the 76% tile for actually earning money. They make money. And they they making you money. Yeah. She's that's 946 on controversies, which at a large cap is basically. Like you don't do anything or the companies don't do anything wrong and she bets 880 on carbon. They don't even speak carbon and doing it. She's giving you money. She makes money. She doesn't do it with controversy and she is not bad for the environment. Correct me if I'm wrong. Elf. Beauty is the company right with the famous at campaign that you're too many dicks. Right? Too many dicks on boards. I was yelling he's part of that. Yeah she's she was a part of that. This is she is one of the best all-round top perform In our entire database of us directors. These are all us directors by the way, but this the US director database, she's one of the best ever. Best added director by performance. This is a new directory, put on a board. And these are the what we have a working Theory here. That if you could pick directors pick a company based on who's on the board, wouldn't you want to follow sort of choosy directors, who have a history of outperforming who are picking boards that they think they think they'll get paid at? They'll do a good job at why not this is a working Theory, right? Yeah. Best Director added based based on their performance. Susan Mahoney another woman. Wow. She is on the axsome Therapeutics board with 11% influence. In the zyme work sport. 13% influence. She's an All-Star, she got added to axle in October of 2023. She bets 769 on TSR and 676 on earnings. She is definitely a draft Target Susan. I'm gonna I'm gonna look into axum because I don't know anything about them, but if you're on it it's probably not bad. Here's the director. That is somehow survived. Somehow no one voted this director out. So a poorly, a poorly performing, directer This is a director who is in the worst TSR bracket that we have who has been on the board for seven or more years, okay? Henry, Maier, thank you Henry this year, man, but not a man that way. Yeah, Kansas City Southern Canadian Pacific Kansas City. CH Robinson board member. He's not three boards. He's the ex CEO at FedEx. Yeah, he bets a stellar Point 026 in earnings. And 151 on TSR. And he somehow has been on the the Kansas City Railroad boards for 11 or 7 8 years. I know you're just looking at data, but I think you basically just blew up the Dei versus Mei argument, right? I mean the From what you're telling me that the three highest before forming directors, essentially that you listed are women in the the worst performing was a man and and again you didn't cherry pick. You just looked at the date. I literally this there was no filter for like whether you're a man or a woman. This is just performing just to Spill the myth and like 10 minutes. Great thank you. Henry, mayor somehow still on the board up and coming director to watch. Is I and again, the filter here was, I'm looking in League's one and two, the small cap boards. Where a director's been on three or more boards at that level, you know, going around small cap mid-cap companies, but they're a Hall of Famer earn All-Star, they're basically top performer all around and then I did a filter that just said they're not at totalitarian companies, right? So and then I sorted by, you know, who on average did the best. And the best was NECA, rimmer a black woman. She's a chemical engineer. She's got an MBA, she was pre-law she's on the boards of Wellness pet and wheels Pro, which are both private and Energizer Holdings like Energizer like the Yeah, battery covering, right Energizer. She's X. Boston Consulting Group McCormick. She actually ran the global flavors and extracts division at McCormick. I love Drilla, I really love me some vanilla extract. She's an All-Star 695 overall, batting average 768 on earnings. She is literally the same or better than approximately 70% of league, three, and four directors. So she's an up-and-comer, She should get. In fact, if there was a board draft or trades, I would trade for Nick a rimmer on any board that you can think of, for everything, you just listened all over accolades, all of her success, all of her high performance, all her background, her experience you. You basically just described what JD Vance would call A D E. I hire, right? That's, that's the irony here, right? Like she's doesn't matter how well she does. She's a d e. I hire And finally, for our individual director, yes Awards. The winningest carbon performer who was added to a board since. Okay, very specifically like, very specific, very specific. These are, this is I looked at every director based on how they performed in carbon intensity. Carbon emissions. And who was the best ad which company got the best carbon director in the, during the year. The invest add was Stacey Smith which is a, he him oh, it's not a woman. Oh, so it was all you sure. Sweep of women, almost asleep. The closest a Hall of Famer he's was not added to just one. He was added to two different boards. Since January, 2023, Intel and wolf speed board. He bets 995 on carbon intensity. 9.95 He's a he if you want some strong carbon performance, you're going to set a carbon Target. Stacy's been there. He's done that. He's a guy to ask. Yeah. Those are my individual director and again, I think Stacey is proof that our data is not political. I mean you weren't just trying to highlight successful women. I mean there, as you said the end, there's a man who Wing his carbon performance. Yes, she did. Not, it's not political it's just data it. This is not political and I'm going to actually reach out to everyone except for Henry mayor, who probably would not want me to reach out, to be fun to reach out to Henry, Beyond us, and I'm gonna let them know. They won, you won some awards, maybe one way he can improve on those. So maybe you should reach out to him. Board Awards. Oh these These are boys are team Awards, great because this is a team sport being on a board at the team sport. Absolutely. Most diverse Board of the Year, okay? This is the deity s Board of the year. We actually covered this on our Tuesday Show Business pants. So if you want it, like if you already heard that, you're gonna get it again. But Trane Technologies wins as the Dei is bored. 17% of the board are Asian black, Hispanic Middle Eastern, their people of color and women, they're women of color. Sure. 17% of the board which is surprisingly high and sad. That that's hot. Yeah, it is but go ahead, but they have 19% of the influence. Okay? Positive performance, a power gas. That's great. It's just great. They in fact, female influence on the board is 49.9%. Okay? So 0.1% less influence than half. So it's basically half of the influence of the board is female. Powered is a female powered board. There is strong diversity. 58% of the board has advanced degrees. So they're smart because it's full a woman. Yeah. And and so Trane technologies that are you're the big winner for the most diverse board. Most investor-friendly board. Okay. What does that mean? This is board that is the most independent meaning. It's a democratic board, no one that controls all the influence that the their their relatively strong performers. Inside our influence is really low and they have a strong mix of skills. There's a skills mix. So if you're an investor and you're looking around a boards and you want to say like, oh well, where am I going to have the most say? Where the people, you know, the have the whitest range of experience is the most open-minded? This is good for engagement. These are, these are the people to talk to The winner this year is Ulta beauty, is that no Ulta Beauty? Is is all so majority women know. It is majority 55% women, 64% have advanced degrees, the CEO is on the board. He's a male, he's on the board but he's not the chair of the board. You know, this is one of the rare companies and I think it's the same also at Trane Technologies or other company because it they're too boards where the CEO is a man and yet still has this incredible amount of female power and president. Yes, very unusual in our database. The average age on Ulta beauty is 60. So it's a whole four years younger than most boards on average is 48%, female influence on the board. 58% of the directors are starters are better in terms of performance and inside or influences overall is actually really low at only 23%. The skills mix is fascinating. The number one skill on the board is mechanical skills. Meaning you know it's it they're involved in sort of A production processes plus, you know, building and architecting and stuff like that. When you twist the lipstick out, you have to kind of write, there's a mechanism in. There's a, there's a, there's a little thing. Yeah, Ulta beauty. Um, but the second most is sales and marketing, the second, most largest skill, which means like you are. Literally those two skills. You don't usually see side by side but you've got mechanical sales and marketing, comms and media, economics and accounting is fourth, most boards. Its first, and this board. It's forth and then computers and electronics. They're just the top five skills alone. You have such a mix. So congrats Ulta Beauty for having a very investor-friendly board. I got three more. Okay, ready for the last three. Yeah. Board. I'm most likely to have a beer with this year. Boy, that you Matt mascardi me that I would want to have a beer. Yeah and this I focused on our knowledge map data. I wanted the board that had the highest level of knowledge overall in design fine arts and history. Okay I like this I thought it would be fun. It's a knock knock beer maybe even like a lemonade, maybe it's more like a wine store a hipster wine. Spritzer yeah. The winner is Lee Enterprises, is that right? Lee Enterprises? The board includes multiple journalists, that is someone who is a poet and educator, a psych major, a book publisher, and then a guy, and a guy who knows? Shari Redstone good enough that guy's gotta have tons of stories. Yeah. But I am, I will say this I'm hoping that the research consultant and the spat guy with the accounting degree from like who worked at like Deloitte and Goldman. I'm hoping they take their kids to water polo that day, they're all just hang out with the rest of the board. They'll probably wander off and like uncomfortably hit on someone with the bar anyway. Like actually maybe make it better if like it's a good mix if they're there then we can maybe University should. Yeah. All right, board. I'm most likely to feel dumb next to, oh, that could be every board, but which one is the most likely know? It's not every board. It's surprisingly not every board this year, the award goes to Bloom Energy, Bloom Energy. Okay? Where 86% of the board has advanced degrees. Wow. 16% of the board influence is biology, has a biology background, 15% engineering background, 13% physics, background to two stupidest. People on this board are the VC guy and the guy from Mackenzie. Those are the two pretty stupid. Oh yeah. People the most intimidating board member on Blue manner. Energy has to be by far Barbara Berger PhD. Yeah she got her doctorate in chemistry. Wow. At California Institute of Technology and that was after she got an MBA in finance from Berkeley just and she's like she. Wow, you had not even sure. I could have a conversation. You had me at Barber Burger, let alone all of her credentials. I'm pretty sure if they ever invited me into that boardroom I would just wilts like a like a flower. And then finally oh finally what an award show. This is so Applause. Here, the final Award of the Year incredible. It's not an upper it's a bit of a downer. This is the board that still can't find a woman or person of color. It's 2021, that's really seriously. This board has no women or people of color on it at all. Wow. The company is Skillz Inc. S k. I l l z Inc skills. Well, this makes sense to me now because it's a, it's a video game company headquartered in Las Vegas of all places, which you don't see very often 100% white and male the CEO has 80% of the voting power, he actually made himself the head of the nominating committee. That is. So now you know exactly what you're getting into. They're definitely not hiring based entirely on just skills. This is the CEO. Who owns devoting power? Selecting his friends to put on this board, all of his friends happened to be white and male. They did have a woman but they did not find a new woman to replace her when she left in the last year, this is a board that cannot find a woman or person of color in 2024 to put on this board. That's it. Those are that's a lot of awards. That's incredible this. A lot of that this might be the best. ESG focused, shareholder democracy focused award show in the history of the world. It has to be, has to be. I mean, there's stiff competition for that title. That's the proxy countdown for the week of July. 29th 2024. Join us next time when we jump back into the alternative democracy pool Forever on the lookout for shareholder. Sharks floating Band-Aids and Wayward directors.