Mary Barra, chairman and CEO of Normal Motors, holds a media briefing on the 2016 GM Annual Assembly of Shareholders on June 7, 2016 in Detroit.
The recommendation from ISS is a setback for Greenlight and its supervisor David Einhorn. They’ve mentioned GM shares are undervalued and can be extra engaging if the corporate divided its frequent inventory into shares that pay a dividend and shares that might mirror the automaker’s development potential.
Greenlight additionally has proposed a slate of three candidates for GM’s board of administrators.
On Friday, advisory agency Glass Lewis additionally suggested in opposition to Greenlight’s nominees for the automaker’s board and its share cut up plan.