Morning, everyone. Welcome to the 2020 annual meeting of shareholders of NextEra Energy. I'm Scott Seeley, Vice President of Compliance and Corporate Secretary, 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 the 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 & 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 Barrat, the retired Vice Chairman of Northern Trust Corporation, a financial holding company headquartered in Chicago. Sherry has been a Director since 1998.
I am here.
Thanks, Sherry. Jim Camaren, a Private Investor and former Chairman and CEO of Utilities Inc., which was one of the largest investor-owned water utilities in the U.S. Jim has been a Director since 2002.
Present.
Thanks, Jim. Ken Dunn, Emeritus Professor of Financial Economics and former Dean of the David A. Tepper School of Business at Carnegie Mellon University. Ken has been a Director since 2010.
Good morning.
Morning, Ken. Naren Gursahaney, 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. Naren has been a Director since 2014.
Good morning, Jim.
Good morning, Naren. Kirk Hachigian, former Chairman and CEO of JELD-WEN Holding, Inc., and former Chairman and CEO of Cooper Industries. Kirk has been a Director since 2013.
Present, Jim.
Morning, Kirk. Toni Jennings, Chairman of Jack Jennings & Sons, a family-owned construction business, and the former Lieutenant Governor of Florida. Toni has been a Director since 2007.
Good morning.
Morning, Toni. Amy Lane, the retired Managing Director and Group Leader of the Global Retailing Investment Banking Group of Merrill Lynch & Company. Amy has been a Director since 2015.
Morning, Jim.
Morning, Amy. David Porges, former Chairman of Equitrans Midstream Corporation and former Chairman and CEO of EQT Corporation. David's been a Director since February 2020.
Good morning, Jim.
Morning, Dave. Rudy Schupp, 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.
Morning, Rudy. Jack Skolds, 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. 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. Present.
Morning, Bill. Darryl Wilson, retired Vice President of GE Power. Darryl has been a Director since 2018.
Good morning, Jim.
Morning, Darryl. I'd also like to confirm the attendance of our independent auditors, Deloitte & Touche. Representing the firm this morning are John Slyh and Allison 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 will ask Scott to adjourn the meeting. We have five items of business today, including two shareholder proposals if those shareholders or their representatives are here to present them. Item number one is the election as directors of the nominees specified in the proxy statement. Item number two is the ratification of the appointment of Deloitte & Touche LLP as NextEra Energy's independent registered public accounting firm for 2020. Item number three 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 four is proposed by Newground 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 Faris Wright, notary public. Proposal four, political contributions disclosure. Shareholders request that management provide a company website report disclosing the company's, one, 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 a referendum. Two, 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.
Thank you. I declare that item number four is properly presented. Item number five is proposed by John Chevedden on behalf of Myra Young. Is the proponent or representative of the proponent here today?
Mr. Chairman, the proponent is here today.
Proposal five, right to act by written consent, Myra K. Young, sponsor. Shareholders request that our board of directors take such of 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, and two, that our company is better overseen by the directors. The directors will want to avoid shareholder action by written consent and will thus have more of an incentive to improve their oversight responsibilities. Thank you.
Thank you. I declare that item number five is properly presented. We will now have a discussion of these five 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 a vote. Those who want to cast a ballot or submit a proxy, please raise your hand and a balloting representative will assist you. If you've already sent in your proxy or are submitting it now, you do not need to fill out a ballot.
Mr. Chairman, it appears that all shareholders wishing to vote by ballot have done so.
Thank you, Scott. I hereby declare the polls 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 one, the election of directors, all nominees received at least 92% of the votes cast. Therefore, all of them have been elected. On item two, approximately 95% of the votes cast have approved Deloitte & Touche as our independent registered public accounting firm for 2020. The appointment has been ratified. On item three, approximately 92% of the votes cast have approved by non-binding advisory vote the compensation of our named executive officers. The compensation has been approved. On item four, over 61% of the votes cast are against the shareholder proposal related to political contributions disclosure. That proposal has not been approved.
On item five, 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.