Glass Lewis Backs SilverBow over Kimmeridge Director Nominations

In response to activist investment firm Kimmeridge Energy Management’s push to appoint three new independent directors at SilverBow Resources’ upcoming shareholder meeting on May 21, proxy advisor Glass Lewis has recommended that shareholders instead support the slate of board nominees proposed by SilverBow. Glass Lewis argued that investors should withdraw their votes for the directors nominated by Kimmeridge, who have been accused by the activist investor of failing to adequately address issues related to governance and performance at SilverBow. The recommendation from Glass Lewis adds weight to SilverBow’s position, as the influential proxy adviser provides guidance to many institutional investors on how to vote at shareholder meetings.