As proxy season progresses, companies are turning up the heat on ISS. In the latest definitive materials filed, HP says they “vehemently” disagree with ISS. HP cuts right to the hear of the issue, stating “As you know, in January 2011, we effected a transformation of HP’s Board of Directors, including adding five outstanding women and men to our Board to help move HP forward. ISS Proxy Advisory Services is critical of our process for doing so and is recommending against the re-election of three of our other highly qualified director nominees as a result. ISS is also recommending against our advisory vote on executive compensation. As described below, we believe ISS’ recommendations are fundamentally flawed.”
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