In 2021, signatories voted to elect four asset owners and one investment manager to the board. Signatories also voted to confirm the appointment of Deloitte as the PRI Association’s new auditor, to receive the PRI Annual Report and accounts and to approve the Signatory General Meeting minutes.
Signatories were invited to vote from 30 September 2021 to 26 November 2021 on the elements of PRI governance set out in the table below.
| Voting item | Asset owners | Investment managers | Service providers |
|---|---|---|---|
| Vote for one asset owner representative in the PRI Board electioni | ✔ | ||
| Vote for one investment manager representative in the PRI Board electionii | ✔ | ||
Vote to confirm the appointment of the auditor |
✔ | ✔ | ✔ |
Vote to receive the PRI Annual Report and accounts |
✔ | ✔ | ✔ |
Vote to approve the Signatory General Meeting minutes |
✔ | ✔ | ✔ |
1 Each asset owner signatory had four votes for four asset owner positions
2 Each investment manager had one vote for one investment manager position
The candidate(s) who received the highest number of votes were elected
View information on signatory rights
Asset owner representative votes
Each asset owner signatory had the opportunity to vote for four candidates out of ten nominated. The four candidates Sharon Hendricks, Laetitia Tankwe, Wilhelm Mohn, and Scott Connolly received the highest votes and are elected as board directors for three-year terms.
| Asset owner candidates | Votes |
|---|---|
| Sharon Hendricks, Vice-chair, CalSTRS Board | 241 (20.5%) |
| Laetitia Tankwe, Advisor to Ircantec President, Ircantec | 210 (17.8%) |
| Wilhelm Mohn, Global Co-Head of Corporate Governance, Norwegian Government Pension Fund Global (Norwegian Ministry of Finance and Norges Bank Investment Management) | 161 (13.7%) |
| Scott Connolly, Trustee Director, Telstra Super | 137 (11.6%) |
| Peter Coveliers, Head of Group Corporate Programmes and Institutional Business Development, European Investment Fund | 97 (8.2%) |
| Denísio Liberato, Equity Director, PREVI | 95 (8.1%) |
| Juan Camilo Osorio, Chairman of the Board, Afore Sura | 74 (6.3%) |
| Kamal Mitha, Head of Investments, Sasria | 59 (5.0%) |
| Massimo di Tria, Chief Investment Officer, Società Cattolica di Assicurazione S.p.A. | 59 (5.0%) |
| Alex Hindson, Chief Risk and Sustainability Officer, Argo Group International Holdings Limited | 45 (3.8%) |
| Abstain | 13 (3.8%) |
| Total voters | 338 |
Candidate vote % is calculated as number of votes for the candidate divided by total aggregate votes (1178).
Investment manager representative votes
Each investment manager signatory had the opportunity to vote for one candidate out of the ten nominated. Wendy Cromwell received the highest votes and is re-elected as a board director for a three-year term.
| Investment manager candidates | Votes |
|---|---|
| Wendy Cromwell, Head of Sustainable Investment, Wellington Management Company, LLP | 381 (34.5%) |
| Karina Funk, Portfolio Manager and Chair of Sustainable Investing, Brown Advisory | 144 (13.1%) |
| Tatjana Puhan, Deputy CIO, TOBAM | 140 (12.7%) |
| Hanneke Smits, CEO, Bank of New York Mellon Investment Management | 125 (11.3%) |
| Maribel Monterrubio, CEO, Vitalis | 116 (10.5%) |
| Alison Schneider, Vice-President, Responsible Investment, Alberta Investment Management Corporation – AIMCo | 84 (7.6%) |
| Papa Madiaw Ndiaye, CEO, AFIG Funds | 46 (4.2%) |
| Melchior de Muralt, Managing Partner, De Pury Pictet Turrettini & Cie | 45 (4.1%) |
| Alan Feld, Founder and Managing Partner, Vintage Investment Partners | 14 (1.3%) |
| Helmut Schuehsler, CEO and Chairman, TVM Capital Healthcare Partners | 8 (0.7%) |
| Abstain | 60 (5.2%) |
| Total voters | 1163 |
Voting breakdown
| Voting item | For | Oppose | Abstain | Total |
|---|---|---|---|---|
| Confirm the appointment of the Auditor | 1534 (99.4%) |
9 (0.6%) |
96 (5.9%) |
1639 |
| 2021 Annual Report and accounts | 1491 (99.8%) |
3 (0.2%) |
145 (8.8%) |
1639 |
| 2021 Signatory General Meeting (SGM) minutes | 1371 (99.9%) |
2 (0.1%) |
266 (16.2%) |
1639 |
Abstain % is calculated as number of abstain votes divided by total votes.
2021 election participation
Total 36.5% signatories participated in the 2021 voting.
| Breakdown by signatory type | Electors | Votes | Turnout (%) |
|---|---|---|---|
| Asset owner ballot | 654 | 338 | 51.7% |
| Investment manager ballot | 3361 | 1163 | 34.6% |
| Service provider ballot | 481 | 138 | 28.7% |
| Total | 4496 | 1639 | 36.5% |
2022 board elections
The PRI Board annual elections is for one asset owner and one service provider representative position. The call for nominations will begin in June 2022, with voting commencing in October 2022. For more information, see PRI Board elections.
