(Reuters) – Proxy adviser Glass Lewis & Co has recommended that investors in natural gas producer EQT Corp vote in favor of the company’s board nominees, putting it at odds with another proxy advisory firm which recommended voting in favor of a competing slate of directors proposed by Toby and Derek Rice.
“We see no significant outstanding concerns regarding leadership or governance at EQT and we do not believe further board refreshment or oversight is warranted at this juncture,” Glass Lewis said in a note dated June 28.
Recommendation - Glass - Lewis - Favor - Company
The recommendation by Glass Lewis to vote in favor of all 12 of the company’s nominees comes after proxy advisory firm Institutional Shareholder Services on Friday advised EQT investors to vote in favor of all the nominees of shareholders Toby and Derek Rice.
The Rice brothers were part of the founding team at Rice Energy, which was bought by EQT in November 2017. They say EQT management is responsible for the company’s underperformance...
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