Good morning, everyone. Welcome to the 2020 Annual Meeting of Shareholders of NextEra Energy. I'm Scott Seeley, Vice President of Compliance and Corporate Secretary, and I hereby call this meeting to order. Let me begin by thanking you for joining this meeting whether in person, by phone or via webcast and for practicing safe social distancing if you're joining us in person. Next, let me confirm that we have a quorum present so that we can conduct a meeting.
I've been informed by our proxy tabulator that approximately 89% of our outstanding shares are present, so we have a quorum. With that, I would like to turn the meeting over to our Chairman and CEO, Jim Robo.
Thanks, Scott, and good morning, everyone. I'd like to begin by introducing several individuals who are joining this meeting via phone. First joining me today is Charlie Sieving, Executive Vice President and General Counsel. Also with us today are the other senior officers of NextEra Energy, Florida Power and Light Company, Gulf Power Company and NextEra Energy Resources. Next, I will introduce the directors who are joining me today as nominees for election.
Please unmute your phones and let us know you've joined us when I call your name. The nominees are Sherry Barrett, the retired Vice Chairman of Northern Trust Corporation, a financial holding company headquartered in Chicago. Sherry has been a Director since 1998.
I'm here.
Thanks, Sherry. Jim Cameron, a Private Investor and Former Chairman and CEO of Utilities Inc, which was one of the largest investor owned water utilities in the United States. Jim has been a Director since 2002. Present. Thanks, Jim.
Ken Dunn, Emeritus Professor of Financial Economics and former Dean of the David A. Tupper School of Business at Carnegie Mellon University. Ken has been a Director since 2010.
Good morning.
Good morning, Ken. Narayan Gersakhani, Interim CEO and Chair of the Board of ServiceMaster as well as the former President and CEO of ADT, a provider of security systems and services. Narayan has been a Director since 2014.
Good morning, Jim.
Good morning, Narayan. Kirk Hachigan, former Chairman and CEO of JELD WEN Holdings, Inc. And former Chairman and CEO of Cooper Industries. Kirk has been a Director since 2013.
Price and Jim.
Good morning, Kirk. Tony Jennings, Chairman of Jack Jennings and Sons, a family owned construction business and the former Lieutenant Governor of Florida. Toni has been a Director since 2007.
Good morning.
Good morning, Toni. Amy Lane, the retired Managing Director and Group Leader of the Global Retail Investment Banking Group of Merrill Lynch and Company. Amy has been a Director since 2015.
Good morning, Tim.
Good morning, Amy. David Porges, former Chairman of Equitrans Midstream Corporation and former Chairman and CEO of EQT Corporation. David has been a Director since February 2020.
Good morning, Jim.
Good morning, Dave. Rudy Shupp, retired President of Valley National Bancorp and Chief Banking Officer of Valley National Bank. Rudy has been a Director since 2005. I'm here, Jim. Thank you.
Good morning, Rudy. Jack Scholes, Retired Executive Vice President of Exelon Corporation and President of Exelon Energy Delivery. Jack has been a Director since 2012. I know Jack has been having a few technical difficulties calling in. I'm here, Jim.
There you are. Okay. Good morning, Jack.
Good morning.
Bill Swanson, retired Chairman and CEO of Raytheon Company, a technology and innovation leader specializing in defense, security and civil markets throughout the world. Bill has been a Director since 2009.
Good morning, Jim, President.
Good morning, Bill. And Daryl Wilson, Retired Vice President of GE Power. Daryl has been a Director since 2018.
Good morning, Jim.
Good morning, Daryl. I'd also like to confirm the attendance of our independent auditors, Deloitte and Touche. Representing the firm this morning are John Sly and Alison Taylor.
We're here. Thank you.
Good morning. Now let's get to the business of the meeting, which will include a description of the items of business that require approval of shareholders, a discussion of those items only and a vote on those items. When we finish the business of the meeting, I'll ask Scott to adjourn the meeting. We have 5 items of business today, including 2 shareholder proposals. If those shareholders or their representatives are here to present them.
Item number 1 is the election as directors of the nominees specified in the proxy statement. Item number 2 is the ratification of the appointment of Deloitte and Touche LLP as NextEra Energy's independent registered public accounting firm for 2020. Item number 3 is the approval by non binding advisory vote of NextEra Energy's compensation of its named executive officers as disclosed in the proxy statement. Item number 4 is proposed by New Ground Social Investment on behalf of several individual shareholders. Is the proponent or representative of the proponent here today?
Mr. Chairman, the proponent or representative is here today. Please step forward to the microphone, introduce yourself and present the proposal.
Hi. My name is Ferris Wright, Notary Public. And proposal for political contributions disclosure, Shareholders request that management provide a company website report disclosing the company's, 1, policies and procedures for making with corporate funds or assets, contributions and expenditures to participate in or intervene in any campaign on behalf of any candidate for public office or to influence the general public with respect to an election or referendum to disclosure of monetary and non monetary contributions used in the manner described above. Disclosure is in the best interest of the company and its shareholders. The Supreme Court recognized this in its 2010 Citizens United decisions, which said disclosure permits citizens and shareholders to react to the speech of corporate entities in a proper way.
Thank you. I declare that Item number 4 is properly presented. Item number 5 is proposed by John Chevedden on behalf of Meyer Young. Is the proponent or representative of the proponent here today?
Mr. Chairman, the proponent is here today.
Proposal 5, right to act by written consent, Myra K. Young sponsor. Shareholders request that our Board of Directors take such the necessary steps to permit written consent by shareholders entitled to cast the minimum number of votes that would be necessary to authorize an action at a meeting at which all shareholders entitled to vote thereon were present and voting. The expectation is that once this proposal is adopted, shareholders would not need to make use of this right of written consent because its mere existence will act as a guardrail to help ensure ensure that our company is better overseen by the responsibility. Thank you.
Thank you. Responsibility. Thank you.
Thank you. I declare that item number 5 is properly presented. We'll now have a discussion of these 5 items of business only. If you are a shareholder and have a comment or question on these items of business, please come to the microphone, state your name and the number of shares you own to introduce yourself. Are there any comments or questions on these items of business?
There are no additional comments or questions, Mr. Chairman.
Thank you, Scott. We'll now conduct the vote. Those who want to cast a ballot or submit a
Mr. Chairman, it appears that all shareholders wishing to vote by ballot have done so.
Thank you, Scott. I hereby declare the poll closed. I believe that the Inspector of Elections has provided the preliminary results of the vote to the General Counsel. Charlie, would you please announce the preliminary results? Mr.
Chairman, the preliminary results are as follows. On Item 1, the election of directors, all nominees received at least 92% of
the votes cast, and therefore, all of them have been elected. On item 2, approximately 95% of the votes cast have approved Deloitte and Touche as our independent registered public accounting firm for 20, so the appointment has been ratified. On item 3, approximately 92% of those cast have approved by non binding advisory vote the compensation of our named executive officers, so the compensation has been approved. On Item 4, over 61% of the votes cast are against the shareholder proposal related to political contributions disclosure, so that proposal has not been approved. And on Item 5, approximately 55% of the votes cast are against the shareholder proposal related to a right to act by written consent, so that proposal has not been approved.
Thank you, Charlie. As we've completed our business, I now ask Scott to adjourn the meeting.
Thank you, Mr. Chairman. I hereby declare that the NextEra Energy Annual Meeting of Shareholders is adjourned. Please be safe and enjoy the rest of your day.