Leading Responsively and Responsibly
Raytheon leadership sets its sights on continuous improvement
Raytheon's board of directors and senior leadership are always striving to become better.
Our dynamic approach includes regularly seeking shareholders' views on governance and executive compensation — something we've done outside of proxy season for the past six years. In 2015, we spoke with shareholders who owned approximately 40 percent of Raytheon's shares altogether. More important, we put this feedback into action. Among the signs that it's working: At our 2015 annual meeting, our executive compensation program received support from 96.5 percent of the shareholders who voted.
We've implemented a number of responsive initiatives, including a series of measures that promote shareholder access. The board approved a proxy access bylaw permitting shareholders, under certain circumstances, to include director nominees in the company's annual meeting proxy. Previously adopted measures allow shareholders to act by written consent and call special meetings. We also enhanced transparency by recently expanding our voluntary political and lobbying website disclosure that includes specific information on political contributions and trade association dues attributable to lobbying.
"The board values and carefully considers shareholder views, as well as keeping a keen eye on emerging best practices," says Vernon Clark, the board's lead director. "This has enabled us to keep on the leading edge of governance while positioning Raytheon competitively in both domestic and international markets."
We continue to refresh our board, adding two new directors in 2015. Informed by the Governance and Nominating Committee, the board regularly assesses its profile — including attributes, skills and experience — and seeks to enhance its governance capabilities in a complex, evolving business environment.