Deckers Brands says Glass Lewis recommends vote for all company nominees
Deckers Brands announced that proxy advisory firms Glass Lewis & Co. and Institutional Shareholder Services recommend that Deckers stockholders vote on the White proxy card for Deckers' director nominees at the 2017 Annual Meeting of Stockholders. Glass Lewis recommends that Deckers stockholders vote "FOR" ALL of Deckers' director nominees, the company stated. In making its recommendation, ISS stated, according to Deckers: "...The dissident has failed to justify its control of the board by failing to provide either a detailed business plan for the company going forward or a contingency plan that identifies a qualified and credible new management team should management continuity become an issue." Deckers also issued the following statement: "We are pleased that ISS has recommended that Deckers stockholders vote on the WHITE proxy card...ISS states that it cannot support Marcato's dissident slate due to two main factors: (1) the fact that robust contingency planning is missing from Marcato's case and (2) the risk of whole board replacement would very likely be disruptive to stockholder value."