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  "documentTitle": "BlackRock (BLK)",
  "authorId": "23_Bluebell_Capital",
  "authorName": "Giuseppe Bivona & Marco Taricco",
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  "presentationDate": "2024-04-09 00:00:00",
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      "text": "With 24 years of tenure, Mr. Gerber cannot possibly be considered “independent” beyond any doubt. BlackRock’s standard of governance has been damaged by this choice",
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      "text": "Bluebell Capital Partners had repeatedly asked to BlackRock’s Board (November 10, 2022, February 6, 2023, and May 17, 2023) to replace the Lead Independent Director. The initial announcement on November 7, 2023, occurred just seven days before the deadline set by the Board for shareholders to submit proposals for the AGM 2024. This timing suggests a questionable decision, seemingly aimed at dissuading Bluebell Capital Partners from presenting a motion to separate the Chairman and CEO roles, always meant to be reversed.",
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      "text": "The Lead Independent Director, especially in a dual Chairman and CEO role, should be like ‘Caesar's wife’(1) - beyond suspicion. The current Lead Independent Director, Mr. Gerber, with 24 years on the Board, highlights BlackRock's lack of commitment to a true and effective independent oversight",
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      "text": "The decision to confirm Mr. Gerber in his role of Lead Independent Director, underscores the Board's lack of independent oversight, emphasizing the need to separate the roles of Chairman and CEO.",
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      "text": "On November 7, 2023, Mr. Gerber announced the decision not to seek re-election. Then on March 28, 2024 BlackRock announced that Mr. Gerber will seek re-election at the next AGM and, if elected, he will remain Lead Independent Director for one additional year",
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      "text": "With 24 years of tenure, Mr. Gerber cannot possibly be considered “independent” beyond any doubt. BlackRock’s standard of governance has been damaged by this choice",
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      "text": "The Lead Independent Director, especially in a dual Chairman and CEO role, should be like ‘Caesar's wife’ - beyond suspicion.",
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      "text": "1. As per Svetonio “De vita Caesarum”: https://en.wiktionary.org/wiki/Caesar%27s_wife_must_be_above_suspicion. Caesar's wife was suspected of adultery and for this reason only Caesar repudiated her. A true leader cannot even be suspected of wrongdoing, as that, in itself, undermines his or her capacity to lead.",
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      "text": "Extract from BlackRock 2024 Proxy Filing: Murry S. Gerber | Lead Independent Director | 71 | 2000",
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      "text": "Lack of independence of the Lead Independent Director",
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