Board Governance

words.Scully Royalty Ltd. (SRL) announced that activist MILFAM LLC’s dissenting proxy to nominate five directors for the Dec. 27 AGM fails to meet the company’s advance‑notice rules and will not be considered. MILFAM is pursuing a Cayman court ruling on the notice’s validity, but any votes for its slate are deemed ineffective. Shareholders should review the SEC‑filed proxy statement and vote using the “white” proxy for the management nominees. The dispute highlights governance tensions in the royalty sector and could affect short‑term stock volatility, while SRL’s stable $150 million cash‑flow portfolio supports a 6‑7% dividend yield and growth strategy.

Caldwell, the executive search firm, expands its expertise in board governance and financial services with the addition of Simon Hall and Michelle De Biolley. Hall, specializing in Board & CEO and Financial Services, brings three decades of global experience. De Biolley, with over twenty years in investment banking, private banking, and private equity, also joins the firm. The move aims to strengthen Caldwell’s talent and support clients’ needs.