There's a New Sheriff in Town, Institutional Shareholder Services

In 2007, Institutional Shareholder Services (ISS) was the largest proxy advisory company in the world, with over 1,700 institutional clients managing an estimated $25 trillion in equity securities. The ISS proxy advisory services were intended to give shareholders greater influence over the management and oversight of the companies they invested in. Over time, ISS increasingly found itself in a central position as an authoritative voice in the debate over shareholder rights. The position was a lucrative one for the company. Critics, however, wondered whether ISS’s positions on important issues were the correct positions and whether it was beneficial to have one organization hold such influence over closely contested proxy contests.