Promoting Excellence Over Politics in Corporate Boardrooms: Strive Launches Campaign Ahead of Proxy Voting Season
Strive identifies seven American companies that risk prioritizing ESG over excellence
In early December, Strive will select a subset of these companies as its focus for next spring’s proxy voting season
COLUMBUS, Ohio, October 25, 2022--(BUSINESS WIRE)--Today Strive Asset Management (Strive) launched its excellence campaign at the start of shareholder proposal and board nomination season. The campaign begins with a series of videos that will air nationwide on digital and broadcast media – the first is available here.
With the campaign launching just two weeks before U.S. midterm elections, Strive believes that its mission to promote excellence over ESG priorities can unify Americans at the corporate ballot box instead of driving companies into the nation’s culture wars.
At the end of 2021, a record 529 ESG proposals were filed by shareholders, up 22% from the previous year. Individuals lacking proper expertise were nominated as board candidates to advance politicized agendas. Many of these proposals and board member nominations had little to do with maximizing long-term value and instead advanced social and political objectives. Examples include racial equity audits, Scope 3 emissions reductions, and self-destructive lobbying efforts.
Strive has identified seven American companies with untapped potential if liberated from ESG-imposed constraints: Amazon, Apple, Chevron, Citigroup, Disney, ExxonMobil, and Home Depot. Each of these large-cap companies have acquiesced to narrow mandates imposed by outside political and social activists. Strive’s excellence campaign will culminate in early December by identifying up to three of these companies with whom Strive will publicly engage in the 2023 proxy voting season.
"Everyday Americans have extraordinary yet unrealized power at their fingertips," notes Vivek Ramaswamy, Executive Chairman of Strive. "They don’t just vote as citizens at the polls in two weeks. They vote every day with their investment dollars – which are too often used by other asset managers to inject political agendas into corporate America’s boardrooms. Strive’s sole goal is to serve our clients’ financial interests without apology."
"Companies should leave politics to the politicians," added Justin Danhof, Strive’s Head of Corporate Governance. "The corporate proxy ballot is about advancing long-run value, not other mixed motivations. We look forward to having a positive impact on great American companies during next spring’s proxy voting season."
About Strive Asset Management: Strive is an Ohio-based asset management firm whose mission is to restore the voices of everyday citizens in the American economy by leading companies to focus on excellence over politics. Strive will compete directly with the world’s largest asset managers by launching funds that advance "Excellence Capitalism" in boardrooms across corporate America. The company was co-founded by Vivek Ramaswamy and Anson Frericks in 2022. Learn more at www.strive.com.
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