The company is offering eco-friendly gifts to registered shareholders who vote
Prudential has introduced an innovative, eco-friendly way to encourage its shareholders to cast their proxy votes. Shareholders who vote their 2010 proxy—whether they do so via the Internet, by phone or through the mail—can select a free gift from Prudential. They can choose a tote bag made of recycled organic cotton or have a tree planted in their honor.
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Peggy Foran, Prudential's chief governance officer and corporate secretary, says the goal is to engage shareholders who, like retail holders, historically do not vote after receiving proxies. "You cannot communicate with shareholders unless you can engage with them," she says. "It's critical that we hear their voice."
While the company is being creative in its efforts to engage shareholders, Foran points out that the gift program is less costly to the company than other more traditional proxy solicitations. And it helps reinforce Prudential’s commitment to the environment. "Over the past several years we have been a leader in making our proxy materials available on-line," Foran notes. "We've reduced the number of annual reports and proxies we mail by about 2 million, saving tons of paper and ink and greatly reducing energy consumption in production and delivery."
Want to learn more about Prudential's vote incentive program? Listen to an audio podcast of CorporateCounsel.net Editor Broc Romanek interviewing Foran and Ed Ballo, head of Shareholder Services at Prudential. Want to talk to Peggy? Contact Gabrielle Shanin.
