Vanguard Releases Updated Proxy Voting Guidelines

On April 12, 2019, Vanguard released its updated proxy voting guidelines, applicable to all United States company meetings held on or after April 1, 2019. The policy updates focus on areas such as independent chairs, overboarded directors and board diversity. The new voting policy is available here. Following the release of its updated proxy voting guidelines, Vanguard announced its decision to grant proxy voting powers for its externally managed funds to those funds’ external managers, with the transitions expected to be complete by the end of 2019.