Reuters: Partner Heidi Reinhart speaks about new CBCA amendments and how they could impact director elections and shareholder activism
Canada | In the media | February 2023
Rise in Canadian shareholder activism faces test next month with new rules in place
Norton Rose Fulbright Partner and member of the special situations team, Heidi Reinhart, speaks to Reuters about the amendments made to the Canada Business Corporations Act (CBCA) impacting director elections and shareholder activism. Last August, the federal government changed the rules allowing shareholders to vote ‘for’ or ‘against’ each nominee director with a majority vote prevailing. Under previous rules, a majority was not required as shareholders could vote ‘for’ a nominee director or ‘withhold’ their vote. “If I were an activist, this makes things easier,” said Heidi Reinhart. Read the article for more details.
Norton Rose Fulbright Partner and member of the special situations team, Heidi Reinhart, speaks to Reuters about the amendments made to the Canada Business Corporations Act (CBCA) impacting director elections and shareholder activism. Last August, the federal government changed the rules allowing shareholders to vote ‘for’ or ‘against’ each nominee director with a majority vote prevailing. Under previous rules, a majority was not required as shareholders could vote ‘for’ a nominee director or ‘withhold’ their vote. “If I were an activist, this makes things easier,” said Heidi Reinhart. Read the article for more details.
