Home -> Law Blog Directory -> Corporate & Securities Law Blogs -> Institutional Shareholder Services -- Corporate Governance Blog

Corporate & Securities Law

: Institutional Shareholder Services -- Corporate Governance Blog

RiskMetrics Group to Hold Governance Forum Webcast withTarget Corporation and Pershing Square Capital Management

RiskMetrics Group will hold a special governance forum webcast on Thursday, May 14 at 1:15 p.m. EDT on the proxy contest between Target Corporation and Pershing Square Capital Management. Representatives and board nominees from both Target Corporation and Pershing Square Capital Management will each make the case for their respective director slates.

Target believes its slate of four incumbent nominees is more likely to create long-term shareholder value. However, Pershing Square claims Target?s board lacks retail, real estate and credit card expertise, and a shareholder voice. Consequently, Pershing Square is sponsoring a slate of five director nominees, four of whom are independent. Target?s annual meeting is May 28.

For Target, the following executives will present: Gregg Steinhafel, Chairman and CEO; Douglas A. Scovanner, Chief Financial Officer; and Stephen Sangar, Director. Pershing Square will be represented by the firm?s founder, William Ackman, and Pershing Square?s board nominees, Michael Ashner, Ronald Gilson, and Richard Vague. Chris Young, RiskMetrics? Head of M&A Research, will moderate the forum.

To provide both sides with ample opportunity to speak and field questions from the audience, this webcast will run for 90 minutes, from 1:15 p.m. through 2:45 p.m. EDT. To register for this webcast, please visit here.

Full post as published by Institutional Shareholder Services -- Corporate Governance Blog on May 12, 2009 (boomark / email).