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ISS and Glass, Lewis back IsZo directors for Nam Tai board

ISS and Glass, Lewis back IsZo directors for Nam Tai board
By Syndicated Content
By Svea Herbst-Bayliss
BOSTON (Reuters) - Two proxy advisory firms said shareholders of Nam Tai Property should vote for several directors nominated by IsZo Capital to join the China-based real estate company's six-member board.
New York-based IsZo is Nam Tai's third-largest investor after Kaisa Group Holdings Ltd, which owns 24% and Peter Kellogg which owns 19%.
Institutional Shareholders Services (ISS) recommended shareholders elect three of IsZo's six nominees while Glass, Lewis and Co. recommended they elect two of IsZo's nominees.
ISS criticized a lack of independence at the board level saying that four of six incumbent directors breached their fiduciary duty in the context of an improper private placement with Kaisa Group Holdings Ltd.

China , Boston , Massachusetts , United-states , Hong-kong , Karishma-singh , Aiping-lyu , Louis-leung , Michael-cricenti , Si-zong-wu , Peter-kellogg , Nam-tai

ISS and Glass, Lewis back IsZo directors for Nam Tai board

ISS and Glass, Lewis back IsZo directors for Nam Tai board
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China , Boston , Massachusetts , United-states , Hong-kong , Karishma-singh , Aiping-lyu , Louis-leung , Michael-cricenti , Si-zong-wu , Peter-kellogg , Nam-tai