MARCH 18, 2015: In response to Trillium’s recent shareholder proposal regarding privacy issues, Priceline Group (NASDAQ: PCLN) has committed to update its Board’s Audit Committee charter and proxy materials to include responsibility regarding regulatory, legislative, and reputational privacy and data security risks that confront the company.
Trillium’s proposal, which highlighted the business and social privacy risk and impacts that come with handling personal information, sought more clarity regarding Board oversight of these issues.
The improvements to Priceline’s governance will help the company protect the privacy of its customers and the wellbeing of the company. Accordingly, Trillium is pleased to withdraw the shareholder proposal.
“We very much appreciated having a productive dialogue with the company which resulted in a fundamental improvement to the company’s critically important governance structure. By incorporating privacy into its committee charter Priceline’s board of directors has acted in the best interests of the company, its shareholders and society”, said Jonas Kron, Trillium’s Director of Shareholder Advocacy.
For more information: Randy Rice, Trillium Asset Management, (617) 515-6889, firstname.lastname@example.org
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