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Sodali's yearly Client Memo - the result of our active involvement and engagement with companies, institutional investors, regulators and other relevant market participants - has quickly become a reference in our industry. In Sodali's annual preview of the upcoming proxy season, we forecast tectonic shifts in governance activism, with both good and bad news for companies, which have the great opportunity to engage individually with relevant shareholders on policy matters and find the correct alignment to meet investors' concerns and expectations. Companies will have to think beyond compliance as they prepare for the 2011 AGM season.