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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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  "notes": "The slide uses a quote from BlackRock's own investment stewardship guidelines to critique their stance on independent leadership.",
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      "kind": "callout",
      "text": "What is the point in overcoming the conflict of interest by asking a third party to vote the shares using BlackRock’s (weak) policies on the Lead Independent Director?",
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      "text": "BlackRock’s funds are BlackRock third largest shareholder and own 6.43% of BlackRock’s shares. These shares are voted “by an independent third-party voting service provider, which applies BlackRock’s public voting guideline where regulation or potential conflicts of interest means we may not vote ourselves” (BlackRock)",
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      "kind": "quote",
      "text": "There are two commonly accepted structures for independent leadership to balance the CEO role in the boardroom: 1) an independent Chair; or 2) a Lead Independent Director when the roles of Chair and CEO are combined...",
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      "text": "There are two commonly accepted structures for independent leadership to balance the CEO role in the boardroom: 1) an independent Chair; or 2) a Lead Independent Director when the roles of Chair and CEO are combined, or when the Chair is otherwise not independent. — BlackRock",
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      "kind": "source-note",
      "text": "1. Source: Bloomberg data as of 9 of March 2024\n2. Source: BlackRock, http://vds.issproxy.com/SearchPage.php?CustomerID=10228; AGM 2023\n3. Source: BlackRock, https://www.blackrock.com/corporate/literature/fact-sheet/blk-responsible-investment-guidelines-us.pdf",
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      "text": "BlackRock’s conflict of interest in voting on its own shares",
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